Shandong Gold Mining (HKG:1787, SHA:600547) forecasts its attributable profit will rise 38% to 67% to between 1.85 billion yuan and 2.25 billion yuan in the nine months ended September from 1.28 billion yuan in the year-ago period, according to a Monday filing with the Hong Kong Exchange.
The miner cited the impact of cost reduction, higher gold prices, and the acquisition of Shanjin International as the drivers of the foreseen increase, the filing said.
Shares closed 4% lower in Hong Kong and 3% lower in Shanghai on Tuesday.
Price (HKD): $16.24, Change: $-0.64, Percent Change: -3.79%
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