Core Insights - The announcement from WanGuo Gold (03939) highlights two major positive developments: the completion of the feasibility study for the Jinling Gold Mine expansion project by strategic shareholder Zijin Mining, and a significant increase in gold resource estimates from 7.34 million ounces (228 tons) to 367 tons, representing a 61% increase [1][2][8] Resource Increase - The core highlight of the announcement is the substantial increase in gold resources at the Jinling Gold Mine, with total ore reserves estimated at approximately 2.894 billion tons and gold metal content at 367.104 tons [1][5] - The updated resource estimate of 328 tons of gold, based on the boundary reserves, adds over 100 tons of exploitable gold resources, potentially valued at over 30 billion yuan based on current industry averages [2][5] Project Expansion - The expansion plan for the Jinling Gold Mine has been clearly outlined, with an additional processing capacity of over 10 million tons per year, bringing the total processing scale to 13.5 million tons per year [6][8] - The mining costs during the expansion phase are projected at $4.2 per ton of ore, decreasing to $2.19 per ton once production scales reach 13 million tons per year [7] Production Forecast - Once the project reaches full production, annual gold output is expected to increase from 2.06 tons in 2024 to 15 tons, marking a 628% increase and exceeding previous market expectations [7][8] - The anticipated net profit for the company in the first half of 2025 is projected to be 600 million yuan, reflecting a year-on-year increase of 136% [7] Market Confidence - The announcement effectively eliminates market uncertainties regarding project progression, positioning the Jinling Gold Mine as a transition from a growth asset to a world-class profit engine [8]
万国黄金：金岭金矿开发路径揭晓 开启核心资产价值暴发期