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REAL ASSET RESEARCH / Xingren, Guizhou
From the full tailings repository to first-phase development.
Focus on the contracted scope, implementation path and operating scenarios for 1 million wet tonnes,
Validate every key assumption with mine-specific evidence.
01 / FIRST PHASE BASIS
The budget and operating scenarios for this round cover only phase one's 1 million wet tonnes.
Total stockpile size is shown according to sponsor materials; actual contracts and mine-specific validation remain outstanding.
First-phase contracted ore volume
Boundaries and ownership require verification
Delivery arrangements proposed in the PPT
Actual throughput recorded separately
Proposed new line target
Awaiting construction and operating validation
Complete first-phase budget
Includes RMB 5 million mine-supply commitment payment
First-phase return research relates only to ore quantities under this contract. The subsequent approximately 2 million wet tonnes require separate securing, investment and accounting; they are outside this round's budget and are not automatically included in its cooperation rights.
Gold output of 0.8 g/wet tonne, total cost of RMB 550/dry tonne and the resulting estimated 800 kg of gold are all phase-one scenario assumptions. Testing, trial-production, continuous-operation and sales-collection records will replace these assumptions individually.
Evidence: No. 3 Gold Tailings Project Financing Intermediary Cooperation Proposal (2026.09.30), pages 3, 8, 9, 11, 21 and 23.
02 / RESOURCE & CONTRACT SCOPE
Define the development scope before interpreting budgets and calculations.
The three figures show quantity relationships; actual mining-area boundaries are governed by formal contract materials.
Total stockpile size proposed by the sponsor.
Requires verification of ownership, surveys and resource materials.
Scope covered by this round's RMB 40 million budget.
Minimum delivery basis: 700,000 dry tonnes.
Separate ore securing, investment and accounting.
Subsequent development conditions will be confirmed separately.
Quantity relationship illustration / Not an actual map of the tailings storage facility · Do not scale first-phase revenue or returns to 3 million wet tonnes.
Source basis: PPT pages 3, 8, 10 and 23. The RMB 5 million phase-one mine-supply commitment payment is included in the proposed RMB 40 million phase-one funding and credited against feedstock payments under the contract to avoid double counting.
03 / IMPLEMENTATION PLAN
Confirm construction plans, processing days and collection cycles separately.
Each stage supports the next with contracts, engineering and mine-specific records.
Finalize phase-one contract boundaries, delivery arrangements and startup conditions, confirming cooperation authorization and dedicated phase-one funding arrangements.
After funding arrives, arrange testing, construction and supporting logistics. Finalize the proposed Chenzhou line, receiving plant and mine-specific line configuration.
Validate gold output, costs, continuous processing capacity and sales collections. Adjust research parameters and formal operating arrangements using trial-production records.
Aggregate throughput, output, sales and actual collections; disclose costs and cumulative distributions. Commencement and distributable-cash conditions require dedicated confirmation.
Material basis: PPT pages 9, 16 and 23. 700,000 dry tonnes ÷ 1,500 dry tonnes/day ≈ 467 full-load production days; this excludes construction, ramp-up, maintenance and supply interruptions and cannot directly represent calendar duration or payback period.
04 / OPERATING PROCESS
Organize the proposed process using the corrected mine-source location.
Drying and transfer sites, specific plant addresses, logistics contracts and processing formalities remain to be finalized.
Ore · Drying · Transfer dispatch
Supporting production line · Processing · Sales collections
Collection within phase-one contract scope
Record wet tonnes and batches
Organize supporting arrangements near Xingren
Record material changes
Check weight and quality
Coordinate logistics and feed supply
Mine-specific process validation
Create processing and gold-output records
Metal plate testing and sales
Clarify settlement conditions
Verify actual cash collections
Separately allocated first-phase costs
700,000 dry tonnes is the minimum delivery quantity and baseline for cost estimates. Changes in actual dry tonnage affect total unit costs and processing days; wet-to-dry conversion, delivery and feed progress must be recorded for each batch.
The proposed supporting line has a budget of RMB 15 million and design throughput of 1,500 dry tonnes/day. The receiving plant, construction, logistics and mine-specific production configuration must be finalized through implementation documents, then validated through acceptance and continuous-operation records.
Evidence: PPT pages 8, 9, 16 and 23. City directions are process illustrations only; specific transport routes and processing locations are not confirmed.
05 / CAPITAL USE
From the budget chart on PPT page 10.
Primary categories, actual payments and funding needs before the first collection are coordinated separately.
Proposed first-phase budget / RMB
4,000RMB 10,000The total includes first-phase ore-securing payments, supporting production lines at Chenzhou, operating funds and channel expenses. This budget excludes subsequent development of the remaining approximately 2 million wet tonnes.
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.
Proposed for securing phase one's 1 million wet tonnes, included in the RMB 40 million total and credited against feedstock payments under the contract; delivery and extraction/transport deadlines remain to be finalized.
A supporting production line is proposed in Chenzhou with design capacity of 1,500 dry tonnes/day; plant location, equipment, engineering and mine-specific line configuration remain to be finalized.
Overall project budget, confirmed against actual funds received, service records and commercial agreements, included in RMB 40 million.
Arrange construction funding and operating working capital separately; funding required before the first cash receipt must be coordinated with phased budgets.
Retains the PPT's top-level budget heading; specific services, payment milestones and expense vouchers remain outstanding.
Uses the PPT's top-level budget categories; conditions for using funds and approval arrangements remain to be specified.
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.
06 / OPERATING SCENARIOS
Full-cycle assumption-based estimates for the first-phase 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.
FIRST PHASE / First-phase full-cycle scenario estimates
Gold revenue − total costs ＋ government subsidies ＋ floor-tile processing gross profit ＋ other precious metals gross profit
Applicable residual-tailings quantity requires verification and is provisionally counted as 0; items with no quantity entered generate no additional returns.
Phase one: 1 million wet tonnes × 1.00 g/wet tonne × RMB 1,000/g
700,000 dry tonnes × RMB 550/dry tonne
0.0000 × 10,000 residual-tailings tonnes × RMB 30/residual-tailings tonne (eligible volume requires verification)
0.0000 × 10,000 residual-tailings tonnes × RMB 500/residual-tailings tonne (applicable quantity requires verification)
0.0000 × 10,000 residual-tailings tonnes × RMB 400/residual-tailings tonne (applicable quantity requires verification)
Gold quantity under the scenario: 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.
| Scenario | Gold output / g·wet tonne⁻¹ | Dry tonnes / 10,000 tonnes | Cost / RMB·dry tonne⁻¹ | Gold price / RMB·gram⁻¹ | Revenue / RMB 100 million | Costs / RMB 100 million | Balance / RMB 100 million |
|---|---|---|---|---|---|---|---|
| Gold price 900 | 0.8 | 70 | 550 | 900 | 7.20 | 3.85 | 3.35 |
| Baseline calculation | 0.8 | 70 | 550 | 1,000 | 8.00 | 3.85 | 4.15 |
| Gold price rise | 0.8 | 70 | 550 | 1,100 | 8.80 | 3.85 | 4.95 |
| Increase in dry tonnes | 0.8 | 80 | 550 | 1,000 | 8.00 | 4.40 | 3.60 |
| Operating downside | 0.4 | 70 | 650 | 900 | 3.60 | 4.55 | −0.95 |
Source basis: PPT pages 11 and 21. Downside scenarios are sensitivity stress assumptions, not operating forecasts. Increased dry tonnes demonstrate only cost sensitivity and do not forecast unchanged material quality. Slider ranges are for trial calculations only and do not represent tested material limits; the original PPT does not fully reconcile capital expenditure with operating costs. Financing and other expenses already included in RMB 550/dry tonne are not deducted again; this tool neither assumes the entire budget is included in costs nor deducts it again separately. Calculations do not produce committed dividends, annualized returns or payback dates.
07 / PROJECT EVIDENCE
Arrangements already stated in source materials and matters requiring verification are explained separately.
Update research assessments after testing, engineering and operating records are established.
The sponsor states a full repository of approximately 3 million wet tonnes, with 1 million in this round's first phase and minimum delivery of 700,000 dry tonnes; proposed ore supplier: Guizhou Huiyuan Trading Co., Ltd.
Verify phase-one contract scope, mine-supply ownership and authorization, delivery tonnage, quality and extraction/transport deadlines; the remaining approximately 2 million tonnes require separate supply commitments, investment and accounting.
Gold output of 0.8 grams/wet tonne and costs of RMB 550/dry tonne are first-phase assumptions. Actual testing, trial-production and cost records for this mine have not yet been provided.
Obtain representative sampling, testing and trial-production materials to validate wet/dry-tonne relationships, process recovery, continuous throughput and sales collections.
Drying and transfer are proposed near Xingren, followed by transport of dry tonnes to Chenzhou for processing; the current path is a schematic of city directions.
Verify site and processing formalities, logistics contracts, freight rates, receiving plants and wet/dry-tonne batch records to establish transport and feed coordination.
A proposed 1,500 dry-tonne/day production line at Chenzhou, budgeted at RMB 15 million; approximately 3 months of preparation and construction are planned after funding is in place.
Check equipment, supporting facilities, construction progress, acceptance and mine-specific production configuration; confirm actual capacity through trial-operation records.
The proposed first-phase RMB 40 million budget has six categories, with first-phase ore-securing payments included in the total; mine-specific cooperation terms await formal document confirmation.
Complete staged funding budgets, cost allocations and formal agreements; establish financing authorization, cooperating entities and separate first-phase accounting without treating proposed terms as effective.
The PPT proposes monthly summaries of processing, gold output, sales, collections, costs and cumulative distributions; operating fields for this mine are currently blank.
Create actual vouchers and independent first-phase records; update research after confirming the commencement point and distributable-cash conditions, with disclosure separate from subsequent ore volumes.
23 pages / 2026.09.30
This is currently Mine No. 2 Xingren, Guizhou; the original file retains its original “No. 3” title and content. Phase-one scope and subsequent mine quantities are explained separately.
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.
Link production, gold output, sales collections and cost disclosures to actual first-phase progress. Retain independent project evidence and continually update first-phase research.
Source: Gold Capital's “No. 3 Gold Tailings Project Financing Intermediation Cooperation Proposal” (2026.09.30). This page was corrected on October 13, 2026 to Mine No. 2 Xingren, Guizhou; the referenced original PPT retains its original “No. 3” title and content. This page researches only phase one's 1 million wet tonnes; the approximately 3 million tonnes in the whole stockpile and approximately 2 million subsequent tonnes follow project-party materials. Related data and operating scenarios have not been independently verified. Actual mine supply, capacity, expenses, financing authorization and project rights are subject to formal documents and records from this mine; scenario calculations are not commitments of investment returns.
FACTS / SOURCES / CONTEXT
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.
Xingren No. 2 gold tailings investment research: full repository of approximately 3 million wet tonnes and first-phase scope of 1 million wet tonnes, first-phase budget, Xingren-to-Chenzhou process and operating scenarios.
On October 13, 2026, following sponsor confirmation, the webpage name and number were corrected to No. 2 Xingren, Guizhou; original attachments, material dates and modeling parameters were retained.
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.