Name▼ / Code▲ | Industry | Listing Price | Lot Size | Entry Fee | Phillip Grey Market | Futu (HK) Grey Market | ||
Newtrend Group 02573.HK Grey Market Today | Food Additives | Pending | 200 | 4,222 | - | - | Detail Quote | |
MetaLight 02605.HK Grey Market Today | Advertising | 9.750 | 400 | N/A | - | - | Detail Quote | |
Rongta Technology 09881.HK Grey Market Today | Advanced hardware and software | Pending | 500 | 6,061 | - | - | Detail Quote | |
Last update: 2025-06-06 12:30:05 |
Name▼
/
Code▼ | Industry | Offer Price | Lot Size | Entry Fee | Closing Date | Grey Market Date▼ | Listing Date▲ | |
No Upcoming IPO
|
We are a gold exploration, mining and processing company established in 2005 and located in Yantai city of the Shandong Province in China. We sell gold bullion derived from gold concentrate processed by us. According to the F&S Report, we were the third largest gold mining company in the Shandong Province in 2022 with a market share of 2.6% in terms of mine production volume but the top two players have an aggregated market share of approximately 78.3% in terms of gold mine production volume. Further, Shandong Province is the largest gold producing province in the PRC with gold mine production volume of approximately 41.4 t, which accounted for approximately 14.0% of the total gold mine production volume in China in 2022, while Yantai city accounted for more than 90% of the gold mine production of the Shandong Province in 2022. We believe we enjoy growth opportunities attributable to our location in Yantai city. The Listing of our Company will constitute a spin-off of our Company from Majestic Gold, which is listed on the TSX Venture Exchange, by way of a separate listing of our Shares on the Main Board of the Stock Exchange. According to the SRK Report, we had total Probable Mineral Reserves, Indicated Mineral Resources and Inferred Mineral Resources amounted to approximately 23,130 kt, 35,840 kt and 39,710 kt, respectively, as at 30 June 2023. We operate two operating gold mines, namely, the Songjiagou Open-Pit Mine and the Songjiagou Underground Mine, both are located at Songjiagou, the Muping- Rushan gold metallogenic belt, which is one of the three major gold metallogenic belts in Yantai, and are in close proximity of around 400 metres from each other. We operate an ore processing plant within 4 km from our mines with an annual ore processing capacity of approximately 2,000 kt. Our mining assets and ore processing plant are well supported by upstream and downstream gold supply chain industries in the Yantai city, and are easily accessible by highway. We have the track records to develop greenfield mining assets and related facilities and have successfully turned them into actual mining and gold producing assets as both of our mining assets, ore processing plant and related facilities such as tailings dam were developed by us. Both our management and operations teams are led by professionals who have extensive industry experience. Our management team is led by our Chairman, executive Director and chief executive officer, Dr. Shao, who held a doctor of philosophy degree in mineral processing and has extensive experience in ore processing, mining-related finance and investment management. Based on the fact that our gold production is mostly attributable to our Songjiagou Open-pit Mine, we have recorded an average production cost of approximately RMB186.3 per gram in FY2022, which is below the industry average of RMB298.0 per gram in 2022 as stated in the F&S Report. We accredited this achievement to our effective gold grade control and production management implemented by our technical team as part of our mining methodology which, before drilling and blasting activities to be carried out with respect of our mining works, incorporates geostatistics into a mix of mining methods (such as drilling, blasting, loading and transportation method for Songjiagou Open-Pit Mine and shrinkage stope and cut-and-fill mining method for Songjiagou Underground Mine) to help select and identify higher gold content orebody (i.e. ore with higher gold grade) to be extracted based on ground and mining site conditions to improve our resource quality while controlling the stripping volume so that we can ensure a stable grade of ore is being fed into our ore processing plant for our ore processing operations. Our Directors believe that our streamlined business model enables us to focus on our core mining and ore processing operations while keeping our operation costs low, thereby enhancing Shareholders’ value in the long run. Prior to February 2021, we outsourced a substantial portion of our mining works comprising demolition, blasting, drilling and excavation works, refining and logistics works to qualified third-party subcontractors. Since February 2021 and up to the Latest Practicable Date, we carry out substantially all of our mining works comprising demolition, drilling, blasting and excavation works ourselves seeking to reduce the costs of mining but outsource all the refining and logistics works to qualified third-party subcontractors. We take safety seriously and have training programmes in place for our third-party subcontractors. All third-party subcontractors are required to possess the requisite qualifications to undertake the commissioned works and carry out their works according to our mine plannings and under our supervisions and inspections. We were awarded the Advanced Unit in Production Safety at the District Level from the government authority of Muping District in Yantai city. As at the Latest Practicable Date, our staff force reached 452. During the Track Record Period, our revenue amounted to approximately RMB361.0 million, RMB247.9 million, RMB418.4 million and RMB196.7 million, respectively, while our net profit amounted to approximately RMB114.4 million, RMB58.7 million, RMB121.0 million and RMB52.8 million, respectively. Source: Persistence Res (02489) Prospectus (IPO Date : 2023/12/14) | |
Listing Market | MAIN |
Industry | Gold & Precious Metals |
Background | Others |
Major Business Area | N/A |
Substantial Shareholders | Majestic Gold Corp. (70.50%) Dongfang Gold Industry (Hong Kong) Limited (9.90%) |
Directors | SHAO Xuxin (Chairman and Chief Executive Officer and Executive Director) LO Cheuk Kwong Raymond (Chief Financial Officer and Executive Director) MACKIE James Thomas (Executive Director) Chen Li Bei (Non-Executive Director) CHAN Ngai Fan (Independent Non-Executive Director) LIU Li (Independent Non-Executive Director) MALAIHOLLO Jeffrey Francis A (Independent Non-Executive Director) ZENG Ming (Independent Non-Executive Director) |
Company Secretary | Lo Cheuk Kwong Raymond |
Principal Bankers | Bank of China Limited Hua Xia Bank Rural Commercial Bank Yantai Bank |
Solicitors | Li & Partners |
Auditors | Ernst & Young |
Registered Office | Level 20, Infinitus Plaza, 199 Des Voeux Road, Central, Hong Kong |
Share Registrars | Tricor Investor Services Ltd. [Tel: (852) 2980-1333] |
Share Registrars Tel No | (852) 2980-1333 |
Internet Address | http://www.persistenceresource.com |
Email Address | [email protected] |
Tel No | (852) 3796-3146 |
Fax No | (852) 3796-3000 |
SITEMAP |
Disclaimer |