Changes in Hong Kong stocks | Lingbao Gold (03330) rose more than 10% in the intraday period and plans to spend 1,735 billion yuan to acquire rights in gold mining in Papua New Guinea

The Zhitong Finance App learned that Lingbao Gold (03330) rose more than 10% in the intraday period. As of press release, it had risen 7.82% to HK$18.2, with a turnover of HK$341 million.

According to the news, Lingbao Gold announced that the Group has conditionally agreed to subscribe and the seller has conditionally agreed to place 50% +1 shares of St Barbara Mining Pty Ltd (target company) at a total cost of 370 million Australian dollars (about 1,735 million yuan).

The target company's current priority projects are the Simberi open pit oxide production and sulphide ore rehabilitation and expansion project in the New Ireland province of Papua New Guinea. In addition, the target company is also involved in a gold exploration project. Through Nord holding 100% interest in two nearby prospecting rights that are being renewed, Nord is also an enterprise developing gold exploration business in Papua New Guinea.