DRAGON MINING

Dragon Mining (1712.HK) opened higher and rallied, closing up 11.8% at HKD 5.13, lifted by recent high-grade drilling results and a profit forecast surge. The stock quickly hit an intraday high of HKD 5.24 during the morning session before consolidating in the afternoon. Despite the strong session, the price remains 24.1% lower year-to-date, slightly below its 20-day moving average of HKD 5.158, with the 60-day MA of HKD 7.039 acting as overhead resistance. Q4 earnings showed revenue jumped 128.6% YoY to HKD 232.6 million and net profit soared 370.1% YoY to HKD 123.8 million, with a net margin of 53.2%. The stock has rebounded 69.9% from its 52-week low of HKD 3.02, though it still trades at a 60.4% discount to its 52-week high of HKD 12.96.