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Additional investment plan by the Company’s subsidiary

On March 8, 2021, Golden Energy and Resources Limited (“GEAR”), a subsidiary, announced the plan to conduct Extraordinary General Meeting of Shareholders, which is scheduled on March 24, 2021, to approve the followings:

  1. Ratification of investment in Ravenswood Gold Group Pty Ltd (“Ravenswood”) amounting to the USD 70 million and cooperation with Ravens Gold Nominee Pty Ltd;
  2. Additional investment of up to 75 million Australian dollars in Ravenswood;
  3. Business diversification including mining of precious metals, base metals, and mineral metals