Professional
Added to YB: 2026-08-03
Pitch date: 2026-07-29
2099.HK [neutral]
China Gold International Resources Corp. Ltd.
-0.13%
current return
Author Info
Spruce Point Capital Management is an activist investment manager specializing in forensic short-selling. Sign up for the newsletter.
Company Info
China Gold International Resources Corp. Ltd., a gold and base metal mining company, acquires, explores, develops, and mines mineral resources in the People’s Republic of China and Canada.
Market Cap
CAD 8.7B
Pitch Price
CAD 31.00
Price Target
44.00
Dividend
2.13%
EV/EBITDA
9.09
P/E
14.20
EV/Sales
5.61
Sector
Metals and Mining
Category
value
Spruce Point Capital Management Issues 'Strong Sell' Research Opinion On China Gold International Resources Corp Ltd. (TSX: CGG / HK: 2099)
2099.HK (short): Spruce Point 'Strong Sell', 50-75% downside. Forensic review flags 99.5% revenue from related-party SOE China National Gold, reporting discrepancies, delinquent/misdated ESTMA filing, jailed ex-CEOs, tainted auditors/advisors linked to fraud. Both mines declining (CSH slope halt, Jiama gold -36% Q1'26); underfunded capex, high DSI. Trades at premium 5.1x rev/4.1x BV vs peers.
Read full article (43 min)