WISER ASSET

REAL ASSET RESEARCH / Anhua, Yiyang, Hunan

No. 3 AnhuaGold tailings investment research

Research overall startup conditions and operating scenarios.
Around ore commitments, new production lines and funding coordination,
Progressively validate key assumptions through mine-specific testing and trial production.

ANHUA / PROJECT RESEARCH03 — INDEPENDENT PROJECT
RESOURCE / BUILD / OPERATE
Ore-source location Hunan · Anhua, YiyangProposed processing destination Hunan · ChenzhouOriginal material version 2026.09Research stage Overall startup planning / Mine-specific validation outstanding

01 / PROJECT BASIS

Securing ore supply and building a separate new line

The No. 3 project is researched independently based on the ore quantity under this contract.
Current materials are a discussion proposal; original mine-supply documents and mine-specific testing and trial-production materials remain to be provided.

Ore quantity proposed to be secured in this round10010,000 wet tonnes

Proposed resource scope
Contracts and ownership require verification

Proposed minimum delivery basis7010,000 dry tonnes

Shown according to the PPT's delivery arrangements
To be established in formal mine-supply contracts

New production-line design capacity1,500dry tonnes / day

Design target
Subject to construction, acceptance and operating validation

Proposed fundraising for full launch4,000RMB 10,000

Complete RMB budget
Coordinate ore securing, construction and operations separately

Replace preliminary assumptions with mine-specific validation

Gold output, dry-tonne ratio, total cost and processing capacity all affect operating results. The PPT's 0.8 g/wet tonne, RMB 550/dry tonne and 800 kg of gold are scenario assumptions requiring validation using testing and trial-production materials from the Anhua project itself.

Overall startup and independent accounting

This project plans a separate new production line of 1,500 dry tonnes/day. Ore supply, financing, construction and operating records are organized around the contracted volume for this round. Formal implementation requires funding to be in place and project startup conditions to be met.

Materials and numbering: this page currently covers No. 3 Anhua mine, Yiyang, Hunan, renumbered October 13, 2026. The original PPT's location is Anhua, Yiyang, Hunan and its original No. 2 title and content are retained; project parameters remain matched to their source materials, pending verification against formal materials and mine-specific records.

Material basis: “No. 2 Gold Tailings Project Financing Intermediary Cooperation Proposal” (2026.09), pages 8, 9, 11, 21 and 23.

02 / IMPLEMENTATION PLAN

Startup, construction and operations confirmed separately

Planned timing and design capacity retain their original status.
Actual progress is verified through contracts, funding, construction and operating records.

01 / RESOURCE & FUNDING

Overall startup conditions

4,000× RMB 10,000 proposed fundraising

Finalize overall financing, mine-supply contracts and dedicated startup conditions. A 3-month exclusive commitment period is proposed; formal extraction, transportation and processing arrangements must cover the full operating cycle.

02 / CONSTRUCTION

Construction and supporting facilities plan

Approx. 3months

Organize construction, supporting facilities and commissioning after funding is received. The new line's design capacity is 1,500 dry tonnes/day; actual capacity is confirmed through acceptance, trial operation and ramp-up records.

03 / OPERATION

Operating targets after commissioning

Approx. 18months

Measured from production start. 700,000 dry tonnes ÷ 1,500 dry tonnes/day ≈ 467 full-capacity production days; downtime, feed, inventory and collection changes require separate consideration.

Source basis: PPT pages 8, 9 and 16. 18 months is an operating target; 467 days assumes full-capacity processing. The start point for proposed monthly distributions from month 4 and actual distributable-return conditions must be specified in the agreement; these do not constitute a fixed payback date or guaranteed return.

03 / OPERATING PROCESS

From ore collection and transport to operating collections

The ore source is in Anhua, Yiyang, Hunan, consistent with the original PPT location,
Chenzhou is the proposed processing destination in the original PPT; specific mine locations, plant site and transportation plan remain to be finalized.

01

Ore collection and transport

Collection within the contracted scope
Record wet tonnes and batches

02

Transfer and drying

Arranged subject to implementation conditions
Record material changes

03

Dry tonnes received at plant

Verify dry-feed weight
Coordinate feedstock supply and inventory

04

Processing and refining

Mine-specific process validation
Create processing and gold-output records

05

Testing and sales

Metal plate testing and sales
Clarify settlement conditions

06

Collection accounting

Aggregate actual cash collections
Check costs and expenses

Mine quantity and processing volume recorded separately

1 million wet tonnes is the quantity proposed to be secured in this round; 700,000 dry tonnes is the minimum delivery quantity and baseline for estimates. Actual wet-to-dry conversion, delivery progress and processable quantities must be confirmed through batch records.

Validate production and cash collections separately

Production, gold output, sales, collections and costs each retain evidence. Once processing output is produced, testing, trading conditions and actual collections must still be confirmed before return accounting.

Material basis: PPT pages 8, 9, 16 and 23. This page does not enter unproduced throughput, gold output or sales figures as actual operating records.

04 / CAPITAL USE

Six budget uses for RMB 40 million

From the budget chart on PPT page 10.
Primary categories, actual payments and funding needs before the first collection are coordinated separately.

Complete proposed budget / RMB

4,000RMB 10,000

Ore-securing payments, new production line, operating funds and channel costs are included in the total. The budget still requires engineering and staged funding details.

Once ore-securing payments are offset against feedstock payments under contract, those amounts are not counted as costs again. Expense boundaries between construction investment and total operating costs require further review.

Ore-securing payment

5 million12.5%

Proposed for securing ore supply, creditable against raw material payments under the contract. Proposed exclusive securing period: 3 months; formal collection and transport arrangements must cover the full project cycle.

New production line

15 million37.5%

Corresponds to design throughput of 1,500 dry tonnes/day. Equipment, engineering, supporting facilities and acceptance details remain outstanding.

Financing intermediary commission

8 million20%

Overall project budget, confirmed against actual funds received, service records and commercial agreements, included in RMB 40 million.

Total operating funds

5 million12.5%

Arrange construction funding and operating working capital separately; funding required before the first cash receipt must be coordinated with phased budgets.

Hospitality and consulting expenses

4 million10%

Retains the PPT's top-level budget heading; specific services, payment milestones and expense vouchers remain outstanding.

Contingency reserve

3 million7.5%

Uses the PPT's top-level budget categories; conditions for using funds and approval arrangements remain to be specified.

Total budget / 100%RMB 40 million

Source basis: PPT pages 8–10 and 23. The financing intermediation commission is a total project budget of RMB 8 million, confirmed according to actual funds received and services provided; specific payments and taxes are subject to the agreement.

05 / OPERATING SCENARIOS

Gold and residual tailings calculated on separate bases

Assumption-based estimates for the full cycle of 1 million wet tonnes.
The gold business is calculated using wet and dry tonnes; additional income is included according to each item's applicable residual-tailings quantity.

Additional gross-profit assumptionsAll three items calculated using eligible residual-tailings tonnes
Enter quantities separately; individual items can also be disabled

FULL CYCLE / Conditional full-cycle estimates

Combined calculated balance6.15× RMB 100 million

Gold revenue − total costs + government subsidies + floor-tile processing gross profit + other precious metals gross profit

Estimated gold business balance6.15× RMB 100 million
Total additional gross profit0.00× RMB 100 million
Overall balance / Dry tonne878.57RMB

Applicable residual-tailings quantity requires verification and is provisionally counted as 0; items with no quantity entered generate no additional returns.

Current variables and calculation basis

Fixed processing scope
1 million wet tonnes
Dry tonnage for the scenario
700,000 dry tonnes
Assumed settlement gold price
RMB 1,000/gram
Assumed gold output per wet tonne
1.00 grams/wet tonne
Assumed total cost
RMB 550/dry tonne
Government subsidy gross profit
RMB 30/residual-tailings tonne
Residual-tailings quantity eligible for subsidies
0.0000 × 10,000 residual-tailings tonnes · Requires verification; provisionally counted as 0
Floor-tile processing gross profit
RMB 500/residual-tailings tonne
Residual-tailings quantity applicable to floor-tile production
0.0000 × 10,000 residual-tailings tonnes · Requires verification; provisionally counted as 0
Other precious metals gross profit
RMB 400/residual-tailings tonne
Residual-tailings volume eligible for other precious metals
0.0000 × 10,000 residual-tailings tonnes · Requires verification; provisionally counted as 0

Individual contributions · RMB 100 million

Gold sales revenue

1 million wet tonnes × 1.00 gram/wet tonne × RMB 1,000/gram

+ 10.00× RMB 100 million

Total cost deduction

700,000 dry tonnes × RMB 550/dry tonne

− 3.85× RMB 100 million

Government subsidy contribution

0.0000 × 10,000 residual-tailings tonnes × RMB 30/residual-tailings tonne (eligible volume requires verification)

+ 0.00× RMB 100 million

Floor-tile processing gross profit contribution

0.0000 × 10,000 residual-tailings tonnes × RMB 500/residual-tailings tonne (applicable quantity requires verification)

+ 0.00× RMB 100 million

Gross-profit contribution from other precious metals

0.0000 × 10,000 residual-tailings tonnes × RMB 400/residual-tailings tonne (applicable quantity requires verification)

+ 0.00× RMB 100 million

Gold quantity under the scenario:1,000 Kilograms

10.00 − 3.85 + 0.00 + 0.00 + 0.00 = 6.15 × RMB 100 million

All three additional values are included directly on a gross profit basis, without deducting their processing costs again. Each is calculated using residual-tailings tonnes meeting its own conditions, not quantities inferred from raw material wet or dry tonnes. Applicable quantities may differ; realization conditions require validation, and duplicate income inclusion must be avoided. The overall balance still requires reconciliation with capital expenditure, taxes, cost allocation and actual collections; it is not confirmed profit or distributable cash.

Original PPT scenario table · Separate reference (new variables excluded)
Full-cycle operating scenarios on PPT pages 11 and 21
ScenarioGold output / g·wet tonne⁻¹Dry tonnes / 10,000 tonnesCost / RMB·dry tonne⁻¹Gold price / RMB·gram⁻¹Revenue / RMB 100 millionCosts / RMB 100 millionBalance / RMB 100 million
Gold price 9000.8705509007.203.853.35
Baseline calculation0.8705501,0008.003.854.15
Gold price rise0.8705501,1008.803.854.95
Increase in dry tonnes0.8805501,0008.004.403.60
Operating downside0.4706509003.604.55−0.95

Material basis: PPT pages 11 and 21. Downside scenarios are sensitivity stress assumptions, not operating forecasts. Slider ranges are for trial calculations and do not represent tested ore limits. The original PPT has not fully reconciled capital expenditure and operating costs; this tool neither assumes the budget is included in costs nor deducts it again separately. Estimates do not calculate promised dividends, annualized returns or payback dates.

06 / PROJECT EVIDENCE

Continue validation using this project's materials

Arrangements already stated in source materials and matters requiring verification are explained separately.
Update research assessments after testing, engineering and operating records are established.

01

Ore supply and ownership

The PPT proposes securing 1 million wet tonnes with minimum delivery of 700,000 dry tonnes; proposed ore supplier: Guizhou Huiyuan Trading Co., Ltd.

Verify Anhua-specific ore-source contracts, ownership, delivery responsibilities, exclusivity periods and collection/transport deadlines.

02

Mine-specific testing and processes

Gold output of 0.8 g/wet tonne and costs of RMB 550/dry tonne are preliminary assumptions, pending testing and trial-production validation at this mine.

Obtain representative sampling, testing, process-testing and trial-production materials to replace assumptions individually.

03

Engineering and capacity

A new 1,500-dry-tonne/day line is proposed, with construction and supporting works planned for approximately 3 months after funding arrives.

Check the equipment list, construction budget, supporting conditions, acceptance and continuous operating capability.

04

Expenses and funding coordination

Six top-level budget categories are available; ore-securing payments can offset feedstock payments under contract.

Complete phased funding budgets, expense allocation and actual payments to avoid double-counting ore-securing payments and feedstock payments.

05

Entity and cooperation relationships

The original PPT lists Defeng Solife Holdings Limited, proposed to handle contracting, collections, implementation and return payments.

Verify formal authorization, designated accounts and contractual relationships with the mine, processing and sales entities.

06

Sales and operating records

Monthly summaries of production, gold output, sales, collections, costs and cumulative distributions are proposed; current report fields are blank.

Establish independent project records using testing, production and sales-collection vouchers before updating operating research.

Download original project PPT

23 pages / 2026.09
Currently Mine No. 3, Anhua, Yiyang, Hunan; the original PPT lists the same location and retains its original “No. 2” title.

Evidence: PPT pages 7–11, 16 and 23. Current communication materials do not signify completed review, audit or performance validation; this page has not confirmed WISER ASSET project interests on this basis.

Project research links to subsequent operating disclosures

Review production, gold output, sales collections and costs against this mine's actual progress. Original evidence is retained independently for this project, with ongoing operating research updates.

Source: Gold Capital's No. 2 Gold Tailings Project Financing Intermediary Cooperation Proposal (2026.09). On October 13, 2026 this page's current identifier was changed to No. 3 Anhua mine, Yiyang, Hunan. The cited original PPT retains its original No. 2 title and content; other data are sponsor materials or scenario assumptions, not independently verified. Actual ore supply, capacity, expenses, financing authorization and project interests depend on formal documents and mine-specific records; scenario estimates are not promises of investment returns.

FACTS / SOURCES / CONTEXT

Page highlights and supporting materials

How should these research materials be read?

First check the asset or project, observation time, sources and measurement basis, then interpret analysis and scenarios. Bitcoin and gold historical assessments are archived by UTC trading day; gold tailings research relies on sponsor materials, retaining labels for proposed parameters and verification items.

Anhua Project No. 3 investment research: securing ore supply, new production-line construction, full startup budget, mine-specific validation and operating sensitivity analysis.

Summary compiled: · Original data timestamps are as stated in the listed materials · Permalink to this section

Project research is retained chronologically, with data status and source bases explained separately.
Consult this mine's research archive to compare original materials with the current explanation.

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Physical-asset investment research No. 3 Anhua Gold Tailings Investment Research