Zijin Mining(SH:601899) Zhong Guo Ji Jin Bao·2026-01-26 16:25Core Viewpoint - Zijin Mining is set to acquire all issued common shares of United Gold for approximately 55 million CAD, translating to about 28 billion RMB, at a cash price of 44 CAD per share, representing a premium over recent trading prices [2][3]. Group 1: Acquisition Details - Zijin Gold International signed an arrangement agreement with United Gold on January 26, proposing to buy all common shares at a price of 44 CAD per share, totaling around 55 billion CAD [2]. - The acquisition price reflects a premium of approximately 5.39% over the closing price of 41.75 CAD per share on January 23, 2026, and an 18.95% premium over the weighted average price of 36.99 CAD over the previous 20 trading days [2]. Group 2: United Gold's Assets - United Gold, headquartered in Canada, has three major gold mining projects, including the Sadiola gold mine, where it holds an 80% interest, and the Korali-Sud gold mine, with a 65% interest [2][3]. - The company also owns the Bonikro and Agbaou gold mining projects in Côte d'Ivoire, with respective interests of 89.89% and 85%, and a 100% interest in the Kurmuk gold mine in Ethiopia, which is expected to commence production in the second half of 2026 [3]. Group 3: Market Position and Valuation - Following the acquisition, Zijin Gold International will expand its asset portfolio to include 12 large gold mines across 12 countries, solidifying its position as one of the top five gold companies globally [4]. - As of January 26, Zijin Mining's A-share price was 39.5 RMB, with a market capitalization of 1 trillion RMB, while Zijin Gold International's stock was priced at 208.8 HKD, with a market cap of 558.8 billion HKD [4].