Commitment and extraction/transport
Ore-source contracts and resource scope
Extraction/transport coordination and batch-by-batch weighing
PROJECT 03 / HUNAN · YIYANG ANHUA
Anhua gold tailings
Investment proposal
From tailings resources to gold assets.
Regarding this round's resources, independent production line and funding arrangements,
Establish a reviewable project investment path.
Preliminary proposal · Testing, trial production and dedicated terms await confirmation
RESOURCE → PROCESS → GOLD02 / ASSET
Project pathway illustration / Not proof of physical assets or capacity
10010,000 wet tonnes
Resources proposed to be secured in this round
4,000RMB 10,000
Proposed financing this round · RMB
1,500dry tonnes / day
Independent new-line design capacity
Approximately 3months
Construction plan after funding is in place
01 / INVESTMENT SCOPE
The starting point of investment,
Defines clear resource boundaries.
Located in Anhua, Yiyang, Hunan, this project organizes purchasing, collection, transport, processing and gold sales around the gold tailings proposed to be secured in this round. Resource delivery, collection and transport deadlines, and project interests are confirmed in mine-specific documents.
Review the Anhua project's research evidence ↗HUNAN / Hunan
Anhua, Yiyang
Mine-source county → Proposed processing destination in Chenzhou, Hunan
County-level source and processing destination illustration; specific mine locations, transfer points and routes remain to be finalized.- Resource scope for this round
- Proposed procurement commitment: 1 million wet tonnes
- Ore supplier entity materials
- Guizhou Huiyuan Trading Co., Ltd.
Shown according to information provided by the sponsor; contracts and authorizations await review. - Ore-securing payment budget
- RMB 5 million, included in the RMB 40 million total
- Delivery and deadlines
- The proposal envisages an exclusive securing period of 3 months
Formal extraction/transport and processing arrangements must cover the full project cycle.
Wet and dry tonnes are measured separately. The previous proposal lists a delivery target of 700,000 dry tonnes, requiring confirmation against contracts and measured moisture.
02 / EXECUTION PATH
Independent production line,
Connect the process through to gold sales collections.
A separate new line is planned for the Anhua project. Design throughput, commissioning results and stable measured capacity will be disclosed separately by stage.
Construction and commissioning
Production line and supporting construction
Mine-specific testing and process validation
Processing and gold output
Plant intake, feeding and operating records
Gold output weighing and metal plate testing
Sales and accounting
Sales settlement and bank collections
Cost allocation and return accounting
Approximately 3-month construction plan
Proceed after funding is in place and startup conditions are met, including construction, supporting facilities and commissioning. Operating timelines and distribution milestones depend on actual commissioning and dedicated agreements.
Key mine-specific verification priorities
Representative sampling and wet/dry basis → Process suitability and recovery rate → Stable processing capacity → Actual gold output and sales collections
03 / CAPITAL ALLOCATION
RMB 40 million,
How project launch is supported.
Funding arrangements cover ore commitments, production-line construction, operations and service expenses. Construction payments and working-capital needs before first collections require phased-budget coordination.
Proposed startup budget / RMB4,000RMB 10,000
Project execution and reserve funds 70%
Intermediation and hospitality consultant budget 30%
Once credited against feedstock payments under the contract, mine-supply commitment payments are not counted again as costs. Startup budgets and full-cycle operating costs are accounted for separately.
| Uses of funds | RMB 10,000 | Proportion |
|---|---|---|
| Ore-securing payment | 500 | 12.5% |
| New production line | 1,500 | 37.5% |
| Total operating funds | 500 | 12.5% |
| Contingency reserve | 300 | 7.5% |
| Financing intermediary commission | 800 | 20.0% |
| Hospitality and consulting expenses | 400 | 10.0% |
| Total | 4,000 | 100.0% |
04 / PARTICIPATION
Around this round's project,
Define participation and settlement mechanisms.
The following is a preliminary proposed standard arrangement. Investors directly confirm dedicated documents, collection accounts and fulfillment responsibilities with verified authorized contracting entities.
Standard participation unit100RMB 10,000 / share
40 units planned, totaling RMB 40 million.
The share structure does not indicate current subscription progress.
Shared investor dividend pool30%
40 shares share the project profit pool determined under the agreement.
Each unit represents 1/40 of the pool.
Cumulative limits and termination of rights2× · Including principal
After the cumulative amount agreed in the agreement is reached,
Terminate the corresponding project income rights.
Calculate actual returns before implementing distributions.
Operating collections → Agreement-based accounting → Distributable returns → Pro rata distribution → Cumulative records
Mechanism example: if an agreement confirms project profit of RMB 10 million for a period and all 40 rights units are valid, the calculated amount per unit is 10 million × 30% ÷ 40 = RMB 75,000. Actual payment depends on distributable returns, collections and the agreement.
View specific arrangements for cash, shares and gold pre-orders ＋
Cash settlement:Pay from actual distributable income and collections, counted cumulatively toward the agreed limit.
Share rights settlement:Security type, conversion price, lock-up period, registration and settlement conditions remain undefined; confirmed value counts toward the same cumulative limit.
Gold reservation:Purchase payment is separate; reference price, specifications, quantity and delivery conditions are agreed separately, and gold purchase funds and project investment funds are accounted for separately.
The relationship between project income shares and company equity requires dedicated documents. Cumulative 2× is a rights-termination condition; distribution amounts and timing depend on operations and collections.
TAILINGS VALUE / Integrated residual-tailings utilization
Beyond gold: three expected residual-tailings income sources
The following project-party expectations have been added for Project No. 3 in Anhua, Yiyang, Hunan. The measurement basis is standardized asRMB/residual-tailings tonne, listed separately from the core gold business estimates. Applicability to this project will be determined using this mine's policy, testing, process and sales documentation.
Government subsidies
30～200 RMB/residual-tailings tonneSponsor-expected income contribution, using the sponsor's gross-profit terminology. Applicable policies, compliant throughput, approvals and actual receipts require mine-specific verification and cannot be treated as approved subsidies.
Processing residual-tailings solid waste into floor tiles
500～1,000 RMB/residual-tailings tonneMeasured in residual-tailings tonnes lawfully usable for processing. Formulation, tailings blending ratio, finished yield, product testing, processing costs and real sales require validation; residual-tailings tonnes cannot be treated directly as finished tile tonnes.
Recovery of other precious metals
400～1,000 RMB/residual-tailings tonneSponsor expectations excluding the core gold business. Metal types, content, recoverability, processing and settlement costs require validation; reconcile with gold income and floor-tile feedstock destinations to avoid double-counting.
Source: On 2026.10.06, the sponsor provided the ranges above and confirmed residual-tailings tonnes as the measurement base. This shows expected gross profit contributions, not realized revenue, net profit or investor distributions. Government subsidies' financial classification and project gross-profit definitions require separate confirmation.
In the calculation, each expected contribution =Actual residual-tailings tonnes meeting this item's conditions × mine-verified unit return. Each revenue stream may have different eligible volumes and cost scopes. Do not assume all residual tailings qualify, directly add the ranges, or multiply them by the 1 million tonnes of feedstock. Residual-tailings volumes must be supported by actual processing, moisture and material-balance records.
The three items above are currently excluded from the existing gold scenario model and proposed dividend pool. Inclusion in contractual profit requires checking this project's rights scope, cost deductions, taxes, collections and dedicated agreements.
05 / PROJECT MATERIALS
From understanding the proposal,
Proceed to mine-specific material review.
The Anhua project's grade, recovery rate, costs and operating results require independent mine-specific validation. Review this project's contracts, tests, trial-production and funding materials.
Scope and top-level budget
The September 2026 dedicated discussion materials set out the resource scope, proposed financing, construction plan and participation mechanism.
Contracts and entity documents
Mine-supply contracts, delivery deadlines, commitment-payment offsets, company authorization, collection responsibilities and project-rights relationships.
Testing and trial-production records
This mine's sample identifiers, locations and depths, wet/dry basis, process tests, recovery conditions and stable capacity.
Budget and settlement terms
Construction phases, working capital, profit definition, expense allocation, exit conditions, and share and gold-purchase arrangements.
View preliminary operating scenarios and modeling assumptions ＋
The preliminary proposal assumes processing 1 million wet tonnes, equivalent to 700,000 dry tonnes, gold output of 0.8 grams/wet tonne and costs of RMB 550/dry tonne. These parameters require mine-specific testing and trial-production validation. The table's balance still requires reconciliation with capital expenditure, full expense allocation and actual collections.
| Scenario | Gold output Grams/wet tonne | Costs RMB/dry tonne | Gold price RMB/g | Estimated balance × RMB 100 million |
|---|---|---|---|---|
| Lower gold price | 0.8 | 550 | 900 | 3.35 |
| Baseline assumptions | 0.8 | 550 | 1,000 | 4.15 |
| Higher gold price | 0.8 | 550 | 1,100 | 4.95 |
| Downside pressure | 0.4 | 650 | 900 | −0.95 |
All use a fixed dry-equivalent quantity of 700,000 dry tonnes; downside scenarios come from stress assumptions in the preliminary proposal. Balances, actual profits and investor-distributable amounts are confirmed separately. Gold prices are scenario parameters.
Material basis: September 2026 “No. 2 Gold Tailings Project Financing Intermediary Cooperation Proposal,” distilled for investors. Page compiled October 5, 2026; current number changed on October 13, 2026 to Mine No. 3, Anhua, Yiyang, Hunan. The original PPT retains its “No. 2” title and content. Revisions will follow proposal updates.
06 / NEXT STEP
First understand the project,
Then confirm participation conditions.
Review materials and discuss technical and financial questions; arrange visits to ore sources or proposed processing facilities subject to actual access conditions, and form an independent judgment.
info@cnucap.com
- 01
Project discussions
Explain interests and material needs.
- 02
Material and site review
Review contracts, testing, trial production and staged budgets.
- 03
Dedicated conditions confirmation
Confirm entities, accounts, rights and settlement arrangements.
- 04
Ongoing disclosure after investment
Track production, gold output, sales and collections as agreed.
FACTS / SOURCES / CONTEXT
Page highlights and supporting materials
What is the current status of the Anhua investment proposal?
Based on the September 2026 gold tailings project financing intermediary cooperation proposal (originally No. 2, now No. 3 Anhua), this page introduces Anhua's proposed scope, independent production line and RMB 40 million funding arrangement. Its budget, rights and operating scenarios are proposal figures; specific matters still require formal-document review. The investment research and investment overview concern the same No. 3 Anhua project in Anhua, Yiyang, Hunan; the specific mine site and implementation conditions still require mine-specific materials.