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<Research>Citi: ZIJIN MINING (02899.HK) Expects 70% of Gold Output Growth from Acquisitions; Gold Prices Still Have Upside Room
Recommend 3 Positive 5 Negative 7 |
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ZIJIN MINING (02899.HK)'s Executive Vice President, Lin Hongfu, expected gold prices to still have upside potential, Citi Research issued a research report saying. The Group focused on gold, aiming for an annual output of 100 tons by 2030, with 30% of growth coming from internal output enhancement and 70% from acquisitions, particularly in South America and Africa. The Company will actively seek acquisitions of copper ore resources, and saw merger and acquisition opportunities in gold mines as well. As for lithium, the Company will focus on existing projects, targeting an annual output of 200,000-250,000 tons by 2028. Therefore, the broker now rated ZIJIN MINING at Buy, with a target price of $39. AASTOCKS Financial News Website: www.aastocks.com |
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