HK Stock Market Move | TONGGUAN GOLD (00340) resumed trading with a high opening exceeding 16% and entered into a non-legally binding list of terms with Zijin Mining Group (02899) subsidiary companies.

TONGGUAN GOLD (00340) resumed trading with a high opening of more than 16%, as of the time of this report, it has risen by 16.28%, trading at 1 Hong Kong dollar, with a turnover of 578,000 Hong Kong dollars. In terms of news, TONGGUAN GOLD announced that on April 8, 2025, the company entered into a non-legally binding term sheet with Purple Gold Metal Limited (the buyer). According to this, the buyer will prepay 25 million US dollars in cash after meeting certain preconditions, and the company will deliver a certain amount of gold from the specified mine area in Gansu Province, China. In exchange, the company has promised to deliver to the buyer an equivalent amount of gold equal to: a fixed quantity of 17.6 kg of gold per quarter until a total of 123.2 kg of gold is delivered from the mine; a fixed quantity of 17.0 kg of gold per quarter until a total of 276.2 kg of gold is delivered from the mine; and a fixed quantity of 7.7 kg of gold per quarter (7.2 kg in the last delivery) until a total of 422.0 kg of gold is delivered from the mine. The company will not be delivering actual gold produced from the mine, but will instead, at its discretion, either deliver gold by-products obtained from the gold flow delivery based on a fixed payable coefficient of 99.9% for all forms of gold, or repay the buyer in cash or through its Hong Kong-based parent company, with the amount calculated based on the quality of the gold delivered multiplied by the actual selling price according to the Shanghai spot gold price.