Understanding the Market | ZHAOJIN MINING rose over 5% in early trading, gold futures broke through $3,000 for the first time, and the offshore gold mine is set to start production in mid-2025
ZHAOJIN MINING rose over 5% in early trading, and as of the time of writing, it has increased by 3.79%, trading at HKD 14.78, with a transaction volume of HKD 68.6677 million. On the news front, on Thursday, COMEX gold futures rose by 1.85%, closing at USD 3001.3 per ounce, continuing to set historical highs. Due to geopolitical uncertainties and the impact of U.S. presidential tariff policies, gold prices have increased by 12% this year. Macquarie stated that the appeal of gold as a safe haven is continuously strengthening, and concerns about the potentially expanding U.S. deficit will further support gold price performance, with prices possibly soaring to a historical high of USD 3,500 per ounce in the third quarter. Industrial Securities previously pointed out that the Haiyu mine is expected to commence production in mid-2025, with an estimated output of 3 tons this year, 5 tons in 2026, 10 tons in 2027, and reaching full production of 15 tons in 2028. The Haiyu gold mine has a large output and high grade, with the full production cost being half that of self-owned mines, thus the unit profit after production will be significantly higher than that of operating mines. ZHAOJIN's 2025 corresponding PE valuation is already significantly discounted compared to mature overseas gold stocks
According to Zhitong Finance APP, ZHAOJIN MINING (01818) rose over 5% in early trading, and as of the time of writing, it is up 3.79%, priced at HKD 14.78, with a transaction volume of HKD 68.6677 million.
In terms of news, on Thursday, COMEX gold futures rose 1.85%, closing at USD 3001.3 per ounce, continuing to set historical highs. Due to geopolitical uncertainties and the U.S. presidential tariff policies, gold prices have increased by 12% this year. Macquarie stated that the appeal of gold as a safe haven is continuously strengthening, and concerns about the potentially expanding U.S. deficit will further support gold price performance, with prices possibly soaring to a historical high of USD 3,500 per ounce in the third quarter.
Industrial Securities previously pointed out that the Haiyu project is expected to begin production in mid-2025, with an estimated output of 3 tons this year, 5 tons in 2026, 10 tons in 2027, and reaching full production of 15 tons in 2028. The Haiyu gold mine has a large output and high grade, with the feasibility cost at full production being half that of self-owned mines, thus the unit profit after production will be significantly higher than that of operating mines. ZHAOJIN's corresponding PE valuation for 2025 is already significantly discounted compared to mature overseas gold stocks
