Ann: Drilling intercepts interpreted core of porphyry gold system, page-64

Try following which is when Lizeng picked up their initial stake in April this year.


announcement on the 3rd April stated following

The Company is pleased to advise it is in advanced stages of negotiating a Strategic Partnership
Agreement for the provision of IP survey services, drilling services, drilling equipment, personnel and
consumables (Strategic Partnership Agreement or SPA) with Hong Kong Ausino Investment Limited
(Ausino). Under the SPA Ausino will provide equipment and services to the Company. Final terms
are currently being negotiated and investors are cautioned that there is no guarantee that terms will
successfully be concluded.
Ausino is a company controlled by Dr Minlu Fu, who is a significant participant in the recent Placement.
Upon completion of the Placement, Dr Fu is expected to be one of Los Cerro’s largest shareholders,
with an interest of approximately 10.3%.
The key driver for seeking the SPA is to assist the company in driving down its in-country exploration
costs, and to improve efficiencies.
The Company will keep the market informed as these negotiations progress.

Deal signed formally on 22nd April