Shandong Gold guarantees subsidiary's Namibia project, approves H-share mandate

Shandong Gold Mining Co., Ltd. announced that its board of directors approved a general mandate for the issuance of H-shares and a guarantee for its indirect wholly-owned subsidiary, Osino Gold Exploration and Mining (Pty) Ltd. (Osino Gold). The H-share issuance proposal will be further reviewed at an upcoming general meeting on September 19, 2025.

The guarantee, amounting to no more than $26 million, is provided by Hainan Shengwei Trading Co., Ltd., a wholly-owned subsidiary of Shandong Gold International. This guarantee facilitates Osino Gold's contract with Solarcentury Africa Limited for the construction of a solar power station in Namibia, supporting the Twin Hills Gold Project. The guarantee has a maximum duration of fourteen years and does not involve financing.

As of September 1, 2025, Shandong Gold International's total guarantee amount for its subsidiaries, including this new guarantee, stands at CNY473,876.72 million, representing 36.51% of its latest audited net assets. Shandong Gold Mining's total external guarantees, including this transaction, reach CNY1,117,598.92 million, accounting for 29.57% of its latest audited net assets. Osino Gold's asset-liability ratio exceeds 70%, categorizing this as a special risk guarantee.