On June 11, Jiaxin International Resources rose 5.35% in regular trading, trading at 86.45 HKD/share, with trading volume of HKD 324 million.

On the news front, the company recently entered into a non-binding memorandum of understanding with PMF to seek mineral resource development opportunities in Kazakhstan. The targeted mineral types include large-to-medium porphyry copper-gold deposits, copper-zinc-lead-gold-silver polymetallic deposits, and tungsten-molybdenum deposits. Under the cooperation framework, PMF will identify, screen, and acquire mineral projects with development potential in target areas, with the company selectively acquiring and incorporating them into its listed asset portfolio at appropriate timing.

The broader Diversified Metals and Mining sector showed signs of recovery, with CMOC up 2.83%, MMG up 3.21%, and Wanguo Gold Group up 2.56%, providing a supportive backdrop. The stock had previously pulled back from a high of 93.65 HKD to around 80 HKD amid sector-wide selling pressure, and the MOU announcement appears to have re-energized buying interest.

Jiaxin International Resources is an investment holding company primarily engaged in the exploration, development, and mining of tungsten ore, focused on the Bakuta tungsten mine project in Kazakhstan.

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