$ZIJIN GOLD INTL(02259.HK)28 cornerstone investors, the first time I've seen so many in my memory
Forward a meeting minutes: Zijin Gold International PDIE Minutes
1. As of now (excluding the newly acquired Kazakhstan project in 2025), the total reserves of existing mines are about 845 tons, of which 435 tons were added through independent exploration, demonstrating its strong exploration capability.
2. Production: 26/27 years respectively
57/60 tons, 100 tons in 30 years. To achieve the 2030 target, the company plans to supplement 30 tons of production through M&A, focusing on projects close to production with annual capacity ≥5 tons
3. 25H1 actual all-in sustaining cost
(AISC) $1548/oz
4. For every 1% increase in gold price, it is expected to drive 2.4% growth in the company's 2026 EPS
5. If using $3600/oz gold price assumption, the 2026 implied P/E ratio would drop to 11-14x
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