HANKING GOLD (03788) Signs Contract for the Construction of Mt Bundy Gold Mine Processing Plant Involving Approximately AUD 121 Million

HANKING GOLD (03788) announced that after a competitive bidding process and evaluations across the entire plant, its wholly-owned subsidiary Primary Gold has awarded two contracts for the construction of a 5.5 million tons/year processing plant for the Mt Bundy gold project to two main delivery contractors on August 10, 2026. The total contract amount for the EPC and EPCM contracts is approximately AUD 120.98 million. Among them, Delonix Solutions Projects Pty Ltd was awarded Contract CO02, responsible for the engineering, procurement, and construction of the Mt Bundy dry processing plant. The contract amount is AUD 92.48 million, and the maximum designed processing capacity of the dry processing plant is 7 million tons/year, higher than the nameplate capacity of 5.5 million tons/year, reserving built-in capacity for future expansion. The contract provides performance guarantees for crushed product size (approximately 4.7 mm P80) and plant availability. CPC Engineering Pty Ltd was awarded Contract CO01, responsible for the engineering, procurement, and construction management of the Mt Bundy wet processing plant, with an EPCM budget of AUD 28.5 million. The goal is to complete the project by April 2027 and finish the commissioning of the wet processing plant in early 2028, to support the first gold production in the first quarter of 2028. The announcement stated that the group is developing the Mt Bundy gold project into a producing gold mine. The EPC and EPCM contracts provide the engineering, procurement, construction, and construction management services required for the processing plant and are an important step for the group to achieve its goal of first gold production in the first quarter of 2028. The separate delivery model allows the group to adopt a fixed-price modular EPC structure for the dry processing plant while maintaining direct and clear control over the procurement of major equipment for the wet processing plant and retaining flexibility in scheduling.