Dragon Mining Shares Surge Over 13% to Record High on Positive Jokisivu Gold Drilling Results and Projected Profit Jump

Stock News
8 hours ago

Dragon Mining (01712) rose over 12%, reaching a record high of HK$12.77. At the time of writing, the stock was up 13.39% to HK$12.70, with a turnover of HK$34.5639 million. The company recently announced final assay results from multiple underground diamond core drilling activities completed at the Jokisivu Gold Mine in southern Finland. These included results from 19 drill holes targeting the 340 to 380-meter level of the main Arpola area (Arpola-4), 12 drill holes exploring the 445 to 460-meter level of the Osmo zone (Arpola-5), and 15 drill holes aimed at the 175 to 190-meter level of the Basin Zones area (Basin Zones-2). Furthermore, the company issued a profit alert earlier this month, forecasting an after-tax net profit between approximately A$58 million and A$62 million for the year ending December 31, 2025. This compares to an after-tax net profit of A$12.9 million in the previous corresponding period, representing an increase of 3.5 to 3.8 times. The significant growth is primarily attributed to achieving a higher average gold price during the reporting period, improved ore grades and gold recovery rates at the Vammala plant leading to higher gold production, and a positive contribution from toll-treating gold-bearing ore from nearby operator Botnia Exploration Ab of Sweden at the Svartliden plant.

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