On August 12, CHIFENG GOLD rose 3.03% in regular trading, trading at HK$38.0 per share, with turnover of HK$82.14 million.

On the news front, the company's indirect subsidiary Lane Xang Minerals signed a mining service agreement worth up to $220 million with China Railway 19th Bureau Group Laos for open-pit mining services at the Sepon gold-copper mine in Laos, covering pre-stripping, ore extraction, transportation, and blasting operations, marking substantial progress in the mine's development. Additionally, the SND project updated its resource estimate to 360 million tons with gold equivalent metal of 260 tons, representing approximately a 143% increase from the initial estimate.

The company forecasts H1 non-GAAP net profit of RMB 1.71-1.79 billion, a year-over-year increase of 54%-61%, with interim results to be reviewed at a board meeting on August 28. The broader gold sector strengthened, with ZIJIN GOLD INTL up 2.39%, SD GOLD up 2.22%, and CHINAGOLDINTL up 1.80%.

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