Bajiaotan Kengkou Tungsten Mine's Mining Right Assessed at 7,078,800 Yuan

According to the announcement of the Department of Natural Resources of Jiangxi Province, the Bajiaotan Kengkou Tungsten Mine in Dayu County, the estimated value of the profit from the transfer of the mining right of the Bajiaotan Tungsten Mine in Dayu County is 7,078,800 yuan (higher than the calculation result of the market benchmark price of the mining right transfer of 6,89,1500 yuan).

The Bajiaotan Kengkou Tungsten Mine is located in Xinzhu Village, Nan'an Town, Dayu County. It was originally part of the eastern edge of the southern group of the Xihuashan Tungsten Mine. It was placed under the jurisdiction of Dayu County tungsten mine in 1988 and was under the jurisdiction of Huaxin Tungsten Industry in 2003. It was obtained through the public auction of 2.82 million yuan. The sub-mining right transfer income assessment is based on September 30, 2006 as the base date for the estimation of remaining resource reserves, and the mining right evaluation area is 0.4499 square kilometers.

As of December 31, 2019, there are 128.73 kilotons of tungsten (122b+333) ore and 2016.51 tons of WO3 metal within the mining right. 27.68 kilotons of associated molybdenum (333) ore and 8.08 tons of Mo metal (average) Grade 0.03%). The amount of associated bismuth (333) ore is 42.66 kilotons, and the amount of Bi metal is 15.68 tons (average grade 0.04%).

From September 30, 2006 to December 31, 2019, the resource reserves used were 41.26 kilotons of ore and 750.53 tons of WO3 metal. The estimated recoverable reserves are 116.09 kilotons of tungsten ore, 1919.00 tons of WO3 metal, with an average grade of 1.65%. The amount of associated Mo metal is 3.28 tons and associated Bi metal is 9.88 tons.

The mining recovery rate is 90%, and the ore dilution rate is 75%. The beneficiation recovery rate is 82% for tungsten, 40% for molybdenum, and 45% for bismuth. The production scale is 30,000 tons/year. The estimated calculation period is 16.48 years (including the infrastructure period of 1 Year).

The product plan in Bajiaotan Kengkou Tungsten Mine, Jiangxi Province is tungsten concentrate (WO 365%), molybdenum concentrate (Mo 45%), and bismuth concentrate (Bi 20%). The sales price excluding tax is tungsten concentrate (WO 365%) 81,400 yuan/ton, molybdenum concentrate (Mo 45%) 64,800 yuan/ton, bismuth concentrate (Bi 20%) 5,600 yuan/ton. The fixed asset investment 20,156,700 yuan (excluding tax).

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