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<Research>M Stanley: ZIJIN MINING (02899.HK) Acquisition of Allied Gold Aids in Achieving 100 Ton Annual Output Target
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ZIJIN MINING (02899.HK) planned to acquire the entire equity of Allied Gold Corporation (AAUC.US) for a total cash consideration of CAD5.5 billion, according to Morgan Stanley's research report. Allied Gold aimed for an output of 11.7-12.4 tons in 2025. Following the completion of the Sadiola project's expansion and the commencement of the new Kurmuk project, its annual output is expected to reach 25 tons by 2029. The broker believed that, if the transaction is successful, it will be a significant milestone for ZIJIN MINING, assisting in achieving its 2030 annual gold production target of 100 tons. Therefore, Morgan Stanley rated ZIJIN MINING at Overweight, with a target price of $46.1. AASTOCKS Financial News Website: www.aastocks.com |
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