The proven gold reserves of the Bayan Khundii gold mine project in southwestern Mongolia are 521,000 ounces (about 14.77 tons), and the average gold grade is 3.16 g/t. The approved proven recoverable reserves are 40,900 ounces (about 1.16 tons), with an average gold grade of 3.71 g/t.

Combined with the grade and characteristics of Mongolia’s gold resources, the Mongolian government’s attention and strong support to the gold mining industry, the procurement and supply of gold leaching and purification equipment in the later stage of gold mining, and the project’s impact on the local environment have all made detailed reports .

The total service life of the project is 8 years. Based on the current gold price ($1,800/oz), the net present value over the project period is estimated at $100 million (5% discount rate) and the internal rate of return (IRR) is estimated at 42%.