Persistence Resources Group Ltd (Ticker: 2489 HK) is a gold mining and processing company based in Yantai City, Shandong Province, China. The company, established in 2005, owns two gold mines in the region and operates additional mining infrastructure including mineral processing plants and a tailings dam. It specializes in gold exploration, mining, processing, and selling gold bullion made from in-house processed gold concentrates. Persistence Resources Group Ltd is listed as the third largest gold miner in Shandong Province as of 2022, with a market share of 2.6% according to a Frost & Sullivan report.

The company will list on the Hong Kong Stock Exchange on December 22, 2023. It plans to offer 500,000,000 shares, with an indicative offer price range of HKD 0.55 to HKD 0.75 per share. The total offer size is HKD 375.00 million (USD 48.02 million). The offering is managed by a consortium of underwriters including ABCI Capital Ltd, BOCOM International Securities Ltd, CCB International Capital Ltd, CMBC Securities Co Ltd, Citrus Securities Ltd, First Shanghai Securities Ltd, Innovax Capital Ltd, Quam Securities Co Ltd, SPDB International Capital Ltd, Valuable Capital Ltd, and others.

The proceeds from the IPO are earmarked for various purposes including selective acquisition of gold mining assets, further construction of mining infrastructure, repayment of existing bank loans, working capital, and additional exploration activities to upgrade gold reserves.