Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi Keeps ZIJIN MINING as Industry Top Pick, Envisions Allied Gold Acquisition to Boost Gold Production & Profitability
Recommend 11 Positive 22 Negative 15 |
||||
|
||||
|
ZIJIN GOLD INTL (02259.HK), an 85%-owned subsidiary of ZIJIN MINING (02899.HK), has signed an agreement with Allied Gold to acquire 100% of Allied Gold's equity for a total cash consideration of CAD5.5 billion (around RMB28 billion), according to a Citi research report. The company's total gold production is expected to be 11.7-12.4 tons in 2025 and will further increase to 25 tons by 2029 following the expansion of the Sadiola project and the commissioning of the Kurmuk project. Given the current high gold prices, Citi considers the acquisition price attractive. It has kept ZIJIN MINING as its industry top pick, with a target price of HKD39 and a Buy rating. The acquisition of the operational gold mines is anticipated to boost ZIJIN MINING's gold production and profitability. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
