Core Viewpoint - The surge in gold prices has triggered a wave of mergers and acquisitions among mining companies, with Luoyang Molybdenum Co., Ltd. announcing a significant acquisition of gold mining assets in Brazil [1][5]. Group 1: Company Performance - Luoyang Molybdenum's stock price increased nearly 180% this year, closing at CNY 17.93 per share, with a market capitalization exceeding CNY 380 billion [1][2]. - The company reported a net profit of CNY 142.80 billion for the first three quarters, a year-on-year increase of 72.61%, despite a 5.99% decline in revenue [3][4]. - The third quarter saw a substantial net profit increase of 96.40% year-on-year, attributed to rising product prices and increased copper sales [3]. Group 2: Acquisition Details - Luoyang Molybdenum plans to acquire 100% of Equinox Gold's Brazilian gold mining assets for a total consideration of USD 1.015 billion, which includes an upfront payment of USD 900 million and potential contingent payments based on gold sales [2][3]. - The three gold mines involved in the acquisition hold a total gold resource of 5.013 million ounces, with an average grade of 1.88 g/t, and are expected to produce approximately 247,300 ounces of gold in 2024 [3]. Group 3: Industry Trends - The gold price has risen significantly, with COMEX gold increasing over 65% year-to-date and Shanghai gold up 58.14%, prompting several mining companies to pursue acquisitions [5][6]. - Other notable acquisitions in the industry include Jiangxi Copper's acquisition of SolGold and Zijin Mining's purchase of gold mining projects in Kazakhstan and Ghana [6][7].

Core Viewpoint - Luoyang Molybdenum Co., Ltd. (603993) (03993) experienced a stock price increase of over 3%, currently trading at 18.7 HKD with a transaction volume of 220 million HKD, following the announcement of a significant acquisition deal [1] Group 1: Acquisition Details - On December 15, Luoyang Molybdenum announced that its subsidiary CMOC Limited signed an agreement with Equinox Gold Corp. and its wholly-owned subsidiary Leagold Mining Corporation [1] - The acquisition involves CMOC Limited purchasing 100% equity of Leagold LatAm Holdings B.V. and Luna Gold Corp. for a total of 1.015 billion USD, which includes an upfront payment of 900 million USD and a contingent cash payment of up to 115 million USD linked to sales, payable one year after closing [1] - The deal grants CMOC Limited 100% ownership of the Aurizona Gold Mine, RDM Gold Mine, and Bahia integrated mining area [1]