Ann: Trading Halt, page-25

iangxi Ganfeng Lithium Industry Co., Ltd
On the wholly-owned subsidiary of Gan Feng International subscribed to Australia Pilbara company not more than 5% stake
Notice of investment in mining rights
All the members of the Company and the Board of Directors hereby warrant that the contents of the announcement are true, accurate and complete
There are false records, misleading statements or major omissions.
Special Note:
1, the subject of the transaction for the Australian Pilbara Minerals Limited (hereinafter simple
Called "Pilbara") no more than 5% stake. The transaction does not constitute a connected transaction, nor does it
Constitute a "major asset restructuring of listed companies management approach" provides a major asset restructuring, no
To be submitted to the shareholders of the company to consider.
2, the transaction still need to submit Pilbara board of directors for approval, and obtain the relevant state
Management department and the Australian Foreign Investment Review Board, and to the Australian Commonwealth
The government to apply for equity registration procedures, there can not be approved and the success of the equity registration failed
risk.
3, if Australia in the mineral qualification access, environmental approval, safe production, tax
And other aspects of policy changes, it will affect Pilbara future production and management and profitability
condition.
4, although there are professional institutions on the Pilgangoora Lithium project sp he diene resources reserves into
Line of assessment, but the calculation and preparation of the resource data is still possible there are man-made, technology
Intraoperative or other uncontrollable factors, and may lead to total resources, reserves and actual
Total resources, reserves of inconsistent risks.
5, due to the need for a series of mineral mining investment in fixed assets and technology investment,
At the same time by the natural conditions of the environment where the mine is bound, there may not be expected to pick
Mine-scale technical risk.
6, the future deterioration of the international economic environment may lead to lithium and lithium concentrate prices decline,
Will make Pilbara's performance less than expected.
First, the transaction overview
1, Jiangxi Ganfeng Lithium Industry Co., Ltd. (hereinafter referred to as "the company") in 2017
The fourth meeting of the fourth session of the Board of Directors on April 27 examined and approved the "
Subsidiary Ganfeng International subscribes to Australian Pilbara Company No more than 5% stake involved in mining rights
Investment Proposal ", agreed to a wholly owned subsidiary of the company Ganfeng International to subscribe for its own funds Pilbara
Of the new shares, the transaction amount of not more than 20 million US dollars, and authorized the company operating level full
For the transaction related matters. After the completion of this transaction, Ganfeng International will hold Pilbara
Not more than 5% of the shares.
2, the transaction does not constitute a related party transactions, does not constitute a "significant assets of listed companies heavy
Group management approach "provides a major asset restructuring, according to the company on April 22, 2016
Held the 23rd meeting of the third session of the Board of Directors and held on May 10, 2016
The annual shareholders' meeting of 2015 to consider the adoption of the "increase in the amount of venture capital and extension."
Long investment deadline ", the matter need not be submitted to the company shareholders to consider.
3, after the completion of this transaction, it will likely produce related party transactions.
Second, the basic situation of the subject matter of the transaction
Pilbara is a resource company in Australia, the Australian Stock Exchange code for
PLS, established on January 10, 2005, registered at Level 2, 88 Colin Street,
WEST PERTH WA, AUSTRALIA 6005. As of the date of this announcement, issue out
Of the ordinary shares of 1,276,638,342 shares, its controlling shareholder Mineral Resources
Limited holds 104,166,667 shares of Pilbara with a stake of 8.16%. Pilbara has a bit
A 100% interest in the Pilgangoora Lithium Project in Pilbara, Western Australia, has not yet been put into operation.
Pilbara Financial data for the most recent year: unit: thousand Australian dollars