Stock Track | ZIJIN GOLD INTL Soars 5.25% Intraday on Acquisition Approval and Gold Sector Strength

Stock Track

07/23

ZIJIN GOLD INTL's stock soared 5.25% intraday on Thursday, driven by positive developments in the company's major acquisition and broader strength in the gold sector.

The rally follows regulatory approval from Ethiopian authorities for the company's approximately USD 4 billion all-cash acquisition of Canadian-listed Allied Gold Corporation. With the transaction closing window approaching, this milestone is expected to significantly expand ZIJIN GOLD INTL's global gold mine portfolio to 12 mines across 12 countries, elevating its overseas resource base and production scale to industry-leading levels.

The broader gold sector also contributed to the positive sentiment, with spot gold previously breaking through USD 4,100 and central bank buying expected to provide continued support for gold prices. This sector-wide strength provided additional momentum for ZIJIN GOLD INTL's share price movement.

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