Understanding the Market | GT GOLD rises over 12%, the actual controller of WanGuo Gold will become the second largest shareholder, the company plans to explore for gold in the deep part of the Xiao Qinling gold mine
GT GOLD's stock price rose nearly 11% again, closing at HKD 0.455, with a trading volume of HKD 27.2915 million. The company plans to place up to 1.039 billion new shares at HKD 0.275 per share, raising a net amount of approximately HKD 274 million. The actual controller of the International Gold Group, Gao Mingqing, will become the second-largest shareholder of GT GOLD. The funds raised will be used for mineral forecasting in mining areas and the development of AI mining models, demonstrating the company's strategic foresight in its main business development and technological layout
According to Zhitong Finance APP, GT GOLD (08299) has risen nearly 11% again, with a current increase of 10.98%, priced at HKD 0.455, and a transaction volume of HKD 27.2915 million.
On the news front, GT GOLD recently announced that the company will issue up to 1.039 billion new shares at a price of HKD 0.275 per share, expecting a net fundraising amount of approximately HKD 274 million. One of the main investors in this placement is Victor Soar Investment Limited. This company is the largest shareholder, actual controller, and chairman of the board of the International Gold Group (03939), Mr. Gao Mingqing. After the completion of this placement, Mr. Gao Mingqing will become the second largest shareholder of GT GOLD.
It is worth noting that the funds raised will be used for cooperation with Northwest University and Shaanxi Geological Mining Group to conduct mineralization predictions in the mining area, delineate exploration target areas, and locate deep gold ore bodies to achieve resource reserve increase goals. It is reported that GT GOLD's main gold mine is the Taizhou Gold Mine project located in Tongguan County, Shaanxi Province, which is situated in the small Qinling area, known as the "thousand-year gold mine." In addition, GT GOLD also plans to use part of the raised funds to develop AI mining models, demonstrating that while rapidly advancing its main business, GT GOLD is also strategically positioning itself in the "mining + AI" sector
