HANKING GOLD (03788): Construction of the Mt Bundy gold project's processing plant has commenced.

HANKING GOLD (03788) announced that following the award of the EPC and EPCM contracts for the construction of the 5.5 million tons/year processing plant at the Mt Bundy gold mine project to two experienced Australian contractors, Delonix Solutions Projects Pty Ltd and CPC Engineering Pty Ltd, the company held a groundbreaking ceremony for the processing plant construction on August 12, 2026, marking the official transition of the project into the full construction phase. The groundbreaking ceremony was held at the construction site of the processing plant at the Mt Bundy gold mine project, Rustlers Roost. Guests in attendance included representatives from the Northern Territory government, local MLA Andrew Mackay, chairman of the Northern Territory Environment Protection Authority Paul Vogel, CEO of the Northern Territory Department of Industry, Tourism and Trade Alister Trier, executive director of the mining division of the Northern Territory Department of Lands, Planning and the Environment Kathleen Davies, the company's executive director, CEO, and president Dr. Qiu Yumin, the chairman of the board Mr. Xia Zhuang, executive directors Mr. Tang Wenbin and Ms. Zhang Jing, CEO of major contractor CPC Engineering Mr. Glenn Weir, managing director of Delonix Solutions Mr. Philippe Vatin, and Australia regional manager of Citic Heavy Industries Group Mr. David Parry, along with over 40 other guests including government officials and industry and community representatives. Reporters from the Australia Broadcast Corporation and News Limited attended the groundbreaking ceremony. At the ceremony, MLA Andrew Mackay, speaking on behalf of the Northern Territory government, highly praised HANKING GOLD's perseverance and efforts over the past 12 years on this project. Mr. Mackay pointed out that the project is significant for the Northern Territory, stating that the processing plant we are constructing will be the largest gold processing plant in the Northern Territory and, once operational, will become the second largest gold mine in annual production in the Northern Territory. He emphasized that the Northern Territory government will continue to support the company's development in the Northern Territory. Regarding the groundbreaking ceremony for the processing plant construction, Dr. Qiu stated, "We sincerely thank all the guests attending today's ceremony. HANKING GOLD recognized the tremendous potential of this project over a decade ago and invested in the then-Australian listed company Primary Gold in 2014, fully acquiring Primary Gold and delisting it in 2018. Since then, gold reserves have increased more than tenfold. With our team's years of effort and the support of the government and all sectors of society, we have reached the current stage." "During the project construction and subsequent long-term operation, the company will adhere to the sustainable development concept of safety and environmental protection, continue to uphold the localization operating strategy, prioritize hiring local labor, and select local suppliers for various supportive collaborations, actively fulfilling corporate social responsibility to drive economic development in the Northern Territory and create a large number of local jobs. We firmly believe this project will create value for shareholders and all stakeholders." Representatives from the main construction contractors, EPC and EPCM signatories, spoke and committed to completing the gold processing plant on time, within quality standards, and on budget. The site preparation work for the Mt Bundy gold mine project has basically been completed, and the processing plant construction has officially entered the full construction phase.