Shares of Lingbao Gold Group (HKG:3330) surged 23.10% on Tuesday, following the company's announcement of an expected net profit of around 150 million yuan for the third quarter of 2024. The strong performance was driven by the resumption of normal production in the mining segment and a gradual improvement in overall operating efficiency.
In a filing with the Hong Kong Stock Exchange, Lingbao Gold Group attributed the positive Q3 results to the recovery of its mining operations and enhanced operational efficiency. The company's shares had already risen over 15% in recent trading sessions, reflecting investor confidence in the company's turnaround.
Analysts expect Lingbao Gold's operational performance to continue improving, supported by favorable market conditions and the company's efforts to optimize its mining processes. The strong Q3 results and the subsequent stock price surge highlight the company's potential for future growth and profitability.
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