DEEP SOURCE (00990) has entered into a loan agreement with Gold Valley Pilbara Pty Ltd for an amount of 6 million US dollars.

DEEP SOURCE (00990) announced that on December 1, 2025, the company entered into a loan agreement with borrower Gold Valley Pilbara Pty Ltd. The company agreed to provide a loan of USD 6 million (approximately HKD 46.8 million) to the borrower, for a period of 12 months from the initial drawdown date. Acquiring equity in the Bella Bella Vanadium project is part of the group's long-term strategic vision in the Australian natural resources market. This move allows the group to diversify its business, support global business development, and promote future investments in Australia. Australia holds about 24% of the global titanium iron ore resources. The demand for this metal is increasing in applications such as large power grids and vanadium redox flow batteries. The company has been made aware that the shareholders of the target company BBI Group Pty Ltd (the company owning all assets of the Balla Balla Vanadium project) are eager to sell the target company, and any sale of relevant interests to foreign buyers requires approval from the Australian Foreign Investment Review Board. Given the time constraints for completing the sale, the borrower (as an Australian entity) has agreed to take on the loan to fund the acquisition of the target company. After the transaction is completed, the target company can then seek approval from the Australian Foreign Investment Review Board to allow the company to acquire 40% of the target company's equity. Therefore, the company has agreed to provide the loan to the borrower in its current structured form without interest, as upon completion of the acquisition of the target company, the company will have the right to acquire 40% of the target company's equity.