HK Stock Market Move | GT GOLD(08299) up 8% as geopolitical risks cool down and gold prices rebound, acquisition of gold mine assets increases reserves volume.

GT GOLD (08299) rose 8%, up 8%, to HK$0.54, with a turnover of HK$21.0496 million. On the news front, thanks to the optimistic sentiment of a possible negotiation between the US and Iran, precious metal prices have rebounded, with spot gold reaching the $4700 per ounce mark. It is worth mentioning that in March of this year, GT GOLD disclosed an announcement regarding the acquisition of a mature gold mine asset in Ningshan County, Shaanxi Province. The company plans to acquire all issued shares of the target company, Changsheng Joint Investment Co., Ltd., from the seller, Guotai Gold Investment Holdings Ltd., for a total consideration of HK$585 million. After the completion of the transaction, the target group will become a direct wholly-owned subsidiary of GT GOLD, and indirectly hold 80% of the project company, with its performance, assets, and liabilities being consolidated into the company's financial statements. Furthermore, at the end of last year, GT GOLD announced that it had submitted an updated application to the Stock Exchange for the transfer of listing to the Main Board in accordance with Chapter 9B of the Main Board Listing Rules on the same day. Analysts believe that for companies like GT GOLD with sustained high growth, a successful transfer of listing will be a key step in unlocking the company's valuation ceiling. By then, GT GOLD is expected to attract more institutional capital allocation with its superior fundamentals, and to fully reflect the company's true intrinsic value under the dual logic of performance growth and valuation recovery.