Zhongxin Mining Co., Ltd. announced on 22 March 2024 that its subsidiary China Gold Joint Ventures and Guangdong Gold have signed a framework agreement for the procurement of cyanide tailings. The Agreement stipulates that China Gold Alloy and its subsidiaries will purchase cyanide tailings from KMT Gold and its subsidiaries for a period of validity from 22 March 2024 to 31 December 2026. Cyanide tailings are waste scraps containing heavy metals produced during gold smelting. This transaction constitutes a continuing connected transaction in accordance with Chapter 14A of the Listing Rules due to the persons connected to the PRC Gold Mining Company. The annual cap for the transaction is 0.1% to 5% and is therefore subject to the reporting, annual review and announcement requirements, but without the approval of...Show More

Zhongxin Mining Co., Ltd. announced on 22 March 2024 that its subsidiary China Gold Joint Ventures and Guangdong Gold have signed a framework agreement for the procurement of cyanide tailings. The Agreement stipulates that China Gold Alloy and its subsidiaries will purchase cyanide tailings from KMT Gold and its subsidiaries for a period of validity from 22 March 2024 to 31 December 2026. Cyanide tailings are waste scraps containing heavy metals produced during gold smelting. This transaction constitutes a continuing connected transaction in accordance with Chapter 14A of the Listing Rules due to the persons connected to the PRC Gold Mining Company. The annual cap for the transaction is 0.1% to 5% and is therefore subject to the reporting, annual review and announcement requirements, but without the approval of independent shareholders. The pricing of cyanide tailings will refer to market prices and take into account factors such as quality. Tender Gold Alloys plans to carry out a chlorinated roasting upgrade project to improve the processing capacity of cyanide tailings and become a major supplier of its cyanide tailings due to the proximity of the country's location and suitable production capacity. The Board of Directors considers this agreement to be in the best interests of the Company and its shareholders and approved it on the same date.