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  Information of the Mining Site

The Mining Site is located in Huangshi City at the southeastern part of Hubei Province with a general mining area of approximately 0.62 square kilometers. The city is developed with sufficient water and electricity supply, affluent labour force and is highly concentrated with mining and mill processing industries.

The mineral resources of the Mining Site are shown in the table below :

  Latest estimate of the amount 
of mineral resources  
 Mine (approximate tonnes) 
 Celestite (ore) 7,377,530 
 Zinc (metal) 267,535 
 Lead (metal) 52,037 

The mineral resources of celestite are expected to be amongst one of the leading celestite mining sites in the PRC, based on a document from the PRC governmental authority. Celestite is one of the two main sources of mine from which strontium can be extracted. According to the information from 資源網 at the internet website (www.lrn.cn), the Mining Site was the second largest strontium mine not yet in operation in the PRC as at August 2006. Two valuation reports and one technical report can be obtained in two circulars of the Company dated 29 January 2009 and 31 December 2007. Under the existing Mining Permit, the mining technique was restricted to underground mining and the scale of production was set at 100,000 tonnes per annum. Based on the information from 商品價格網 at the internet website (price.mofcom.gov.cn), celestite with average grading of 94% (from Mexico) was priced at around US$80 to US$100 per tonne in September 2007. Based on the information from the London Metal Exchange, zinc and lead was priced recently at US$3,000 per tonne and US$3,600 per tonne respectively.

The acquisition of the Mining Site was completed on 23 December 2009.

  Introduction of Strontium

Strontium is an element which when compounded, has various commercial uses, mainly applied in cathode ray tubes for color television's monitors and liquid crystal display. It is also used in the alloys of many metals such as tin and aluminum improving the ductility and strength. According to a geological survey subsidized by the U.S. government published in January 2006, the worldwide base reserve of strontium is estimated at 12 million tonnes and China, being the world's leading producer of strontium, has the plant capacity to produce approximately 200,000 tonnes per year markets strontium carbonate (a widely used strontium compound) in majority of Asian and European cities.

Usage of Strontium

1. High voltage of the tube for television
2. Ingredient of red color fireworks and signal flare
3. Medical industries
4. Missile and rocket fuel material
5. Parts of car wheels and car engine
6. Reflective traffic signs
7. Energy saving lamps
8. Ingredient in refining the zinc ore
9. Corrostop pigment
10. High Technology potting
11. Computer storage device
12. Material for anti-radar aircraft and tank



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