"Graphex Mining Limited (ASX: GPX) is pleased to announce that...

"Graphex Mining Limited (ASX: GPX) is pleased to announce that CN Docking Joint Investment & Development Co. Ltd (‘CN Docking’) has confirmed that HK$100 million has been deposited into a bank account controlled by a syndicate of Chinese investors led by CN Docking.

Graphex has received confirmation that these funds represent the initial tranche of funding that is specifically designated for investment into the proposed joint venture.

Graphex Managing Director, Phil Hoskins, commented: “The deposit of the initial tranche of joint venture funding by CN Docking reinforcestheir commitment to the joint venture partnership with Graphex and further supports the quality of our Chilalo Graphite Project.”

In addition, preparation of formal legal agreements has commenced, with the parties targeting execution within three months. Whilst there is no certainty that a binding arrangement will eventuate, both parties are confident that this will be achieved."