Merdeka Gold-DRS (06228) climbed more than 8% in early trading on the Hong Kong Stock Exchange, reaching a high of HK$38.80 and setting a fresh record high since its listing. As of the time of writing, the stock was up 8.44% at HK$38.80, with turnover reaching HK$27.83 million.

On the news front, Indonesian gold mining company Merdeka Gold recently officially adopted its new Chinese name "自由黄金" (Freedom Gold). Public information reveals that the company's core asset, the Pani Gold Mine, is located in Gorontalo, Indonesia. According to data from industry consultant CRU, it is the largest primary gold mine in Indonesia by both resources and reserves, ranking fifth and fourth in Asia respectively. The asset combines three scarce advantages: scale, cost efficiency, and growth potential.

Public data indicates the company achieved its first gold production in February this year, followed by its inaugural gold sale in March. The second-quarter production figures validate the ramp-up trajectory, with quarterly gold output reaching 15,594 ounces, a surge of 758% quarter-over-quarter, while gold sales hit 6,439 ounces, jumping 1,147% quarter-over-quarter.

On the sales front, the company has secured a two-year gold sales agreement with Indonesia's state-owned mining giant Antam, covering a total volume of 3 tonnes, with an option to increase by up to 3 tonnes annually. This arrangement fully covers the company's core production during the initial phase of operations.