HANKING GOLD (03788.HK): Mt Bundy Gold Project Mill Construction Commences, to Be the Largest Gold Mill in the Northern Territory

NewTimeSpace News: On 12 August 2026, Hanking Gold International Limited (stock code: 03788) voluntarily announced that, following the award of the EPC and EPCM contracts for the construction of the Mt Bundy gold project processing plant with an annual processing capacity of 5.5 million tonnes to two experienced Australian contractors, Delonix Solutions Projects Pty Ltd and CPC Engineering Pty Ltd, the Company held the groundbreaking ceremony for the processing plant construction on the same day, marking the project's official entry into the full construction phase.

The groundbreaking ceremony was held at Rustlers Roost, the processing plant construction site of the Mt Bundy gold project. Attendees included representatives of the Northern Territory Government, local electorate member Mr. Andrew Mackay, Chairman of the Northern Territory Environment Protection Authority Mr. Paul Vogel, Executive Director of the Northern Territory Department of Mining and Energy Mr. Alister Trier, Executive Director of the Mining Division of the Northern Territory Department of Lands, Planning and Environment Ms. Kathleen Davies, the Company's Executive Director, Chief Executive Officer and President Dr. Qiu Yumin, Chairman of the Board Mr. Xia Zhuo, Executive Directors Mr. Tang Wenbin and Ms. Zhang Jing, Chief Executive Officer of CPC Engineering Mr. Glenn Weir, Managing Director of Delonix Solutions Mr. Philippe Vatin, Australia Regional Manager of CITIC Heavy Industries Mr. David Parry, as well as over 40 other guests including government officials and industry and community representatives. Journalists from the Australian Broadcasting Corporation and News Limited also attended the ceremony.

At the ceremony, Mr. Andrew Mackay, Member of the Northern Territory Parliament, spoke on behalf of the Northern Territory Government, highly commending Hanking Gold's persistence and efforts on the project over the past 12 years. He noted that the processing plant under construction will be the largest gold mill in the Northern Territory and, once completed and operational, will become the second-largest gold mine by annual output in the Territory, and that the Northern Territory Government will continue to support the Company's development. Dr. Qiu stated that the Company invested in Primary Gold, then an Australian listed company, in 2014, fully acquired Primary Gold in 2018 and delisted it, after which gold reserves increased by more than tenfold. Representatives of the main EPC and EPCM contractors also committed to building and commissioning the gold processing plant on time, to quality and within budget. Site levelling works for the Mt Bundy gold project have been substantially completed, and the processing plant construction has officially entered the full construction phase.

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