On June 27th, Gelunhui reported that Shandong Yulong Gold (601028.SH) passed the 15th meeting of the sixth board of directors and approved the proposal for the company to sign a binding memorandum of understanding and related-party transactions with Miton Mining to further enhance the company's new energy, new materials, and mineral resource reserves, and to improve its core competitiveness. The company plans to acquire 70% equity of Graphex Limited and Kwe Kwe Graphite Limited (referred to as project companies), held by Miton Mining through its designated subsidiary, to obtain the mining concession rights of Ancubei Graphite Project, Eyre Peninsula Graphite Project, as well as intellectual property and drilling core assets related to the Nicanda Hill and Nicanda West graphite projects. The transfer price shall not exceed AUD 17,000,000. The specific transfer price shall be subject to the formal transfer agreement signed after audit evaluation.

Grafex Limited holds the mining concession right of Ancubei, with the following details: Mining Concession Right Certificate Number: 9132C; Holder: Grafex Limited, owning 100% equity; Grant Date: August 7, 2019; Validity Period: Until August 7, 2044; Mineral Resources Covered: Graphite; Resource Volume: 46.1 million tons; Average Fixed Carbon Grade: 6.59%; Area: 10,274.7 hectares, the concession right is located in the Delgado Cape province of Mozambique. In addition, Grafex Limited holds the intellectual property and drilling core assets of the Nicanda Hill and Nicanda West projects.

Kwe Kwe Graphite Limited holds the mining concession right of Eyre Peninsula, with the following details: Mining Concession Right Certificate Number: 11584C；Holder: Kwe Kwe Graphite Limited, owning 100% equity; Grant Date: August 25, 2023; Validity Period: Until August 25, 2048; Mineral Resources Covered: Graphite; Resource Volume: 103 million tons; Average Fixed Carbon Grade: 5.52%; Area: 17,212.9 hectares, the concession right is located in the Delgado Cape province of Mozambique.