Ge Long Hui A P P·2026-01-27 08:04Core Viewpoint - The acquisition of Equinox Gold's gold asset portfolio in Brazil by Luoyang Molybdenum (3993.HK) for up to $1 billion is expected to enhance the company's business structure, positioning gold as a new pillar alongside copper [1] Group 1: Acquisition Details - The acquisition was announced in December last year and has been completed [1] - The implied gold price from the asset net value analysis is approximately $3,320 per ounce, compared to the current spot gold price exceeding $5,000, with an average price above $4,500 year-to-date [1] Group 2: Management's Perspective - Management anticipates reasonable returns from the $1 billion acquisition cost and holds a constructive view on gold [1] - There is an expectation to reduce operational costs of the acquired assets through synergies and efficiency improvements, as well as enhanced competitive procurement and supply chain management [1]