LINGBAO GOLD (03330) intends to subscribe for 50% + 1 share of St Barbara Mining Pty Ltd with approximately 370 million Australian dollars.

LINGBAO GOLD (03330) issued an announcement on December 10, 2025, stating that the buyer, LINGBAO GOLD International Limited (a direct wholly-owned subsidiary of the company), entered into an agreement with the seller, St Barbara Limited. According to this agreement, the buyer conditionally agrees to subscribe to and the seller conditionally agrees to sell 50%+1 shareholding of the target company for a total price of 370 million Australian dollars (approximately equivalent to 1.735 billion Chinese yuan at an approximate exchange rate of 1 Australian dollar to 4.6880 yuan). The target company, St Barbara Mining Pty Ltd, is a limited liability company registered in Australia, mainly engaged in the exploration, production, and sale of gold mines. The target company's current key project is the Simberi open-pit oxide mine production and sulfide mine expansion project in the New Ireland Province of Papua New Guinea. In addition, the target company is also involved in gold exploration projects, and through Nord, holds a 100% interest in two adjacent exploration rights in renewal in Papua New Guinea, Nord is also a company engaged in gold exploration in Papua New Guinea. The core asset of the target company is the Simberi producing gold mine in New Ireland Province, Papua New Guinea (through Simberi holds an 80% interest), with gold resources of 153 tons (average grade 1.4 g/ton) and reserves of 81.2 tons (average grade 1.8 g/ton) in compliance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 version, and operates a processing plant with an annual capacity of 3.5 million tons. Its mining lease has obtained official recommendation for extension until 2038 (the official approval is expected to be obtained in the first half of 2026), ensuring the legality of long-term operations. The current oxide ore production will continue until 2027, followed by the development of sulfide ore resources (pre-feasibility study completed, feasibility study update in progress), ensuring stable production for the next decade. In addition, the target company also holds a 100% interest in two adjacent exploration rights in renewal through Nord (EL2462 and EL609), with potential for resource growth. Considering that (i) the group is a Chinese integrated gold mining enterprise mainly engaged in gold mining, smelting, and refining; and (ii) the target company has abundant gold reserve resources, the subscription will help increase the group's resource storage capacity, strengthen its competitiveness in the mining sector, and expand its production scale. It is expected that the target company can provide a stable and regular source of income for the group. The target company can also enhance the group's assets, allowing the group to explore and expand its business prospects overseas.