Announcement PDF AuKing Mining Limited ABN 29 070 859 522 ASX Code: AKN ANNUAL FINANCIAL REPORT For the year ended 31 December 2023 AuKing Mining Limited 2023 Annual Report Corporate Directory AuKing Mining Limited Board of Directors Mr Asimwe Kabunga (Executive Chair) Mr Peter Tighe (Non-Executive Director) Mr Shizhou Yin (Non-Executive Director) Mr Park Wei (Non-Executive Director) Auditors BDO Audit Pty Ltd Level 10, 12 Creek Street Brisbane QLD 4000 Telephone: 07 3237 5999 Website: www.bdo.com.au Share Registry Chief Executive Officer Mr Paul Williams Company Secretary Mr Paul Marshall Head Office and Registered Office Suite 2208, Level 22 127 Creek Street Brisbane QLD 4000 Telephone: 07 3535 1208 Email: admin@aukingmining.com Website: www.aukingmining.com Link Market Services Limited Level 21 10 Eagle Street Brisbane QLD 4000 Telephone: 1300 554 474 Facsimile: 02 9287 0303 Website: www.linkmarketservices.com.au Stock Exchange Listing Australian Securities Exchange ASX Code: AKN Australian Business Number 29 070 859 522 Page 2 AuKing Mining Limited 2023 Annual Report CONTENTS Directors’ Report Review of Operations 4 Directors and Officers 14 Financial Results 16 Future Developments, Prospects, Strategies and Business Risks 18 Remuneration Report 20 Auditor's Independence Declaration 29 Additional Stock Exchange Information 30 Annual Financial Report Consolidated Statement of Comprehensive Income 32 Consolidated Balance Sheet 33 Consolidated Statement of Changes in Equity 34 Consolidated Cash Flow Statement 35 Notes to the Consolidated Financial Statements 36 Directors’ Declaration 55 Independent Auditor’s Report 59 Page 3 AuKing Mining Limited 2023 Annual Report REVIEW OF OPERATIONS Koongie Park Project Western Australia, Australia Ownership 100% (subject to 1% net smelter royalty) Total JORC Resources: Sandiego/Onedin - 8.9 million tonnes @ 1.01% Cu, 3.67% Zn, 0.16g/t Au, 32g/t Ag, 0.77% Pb and Emull -12.2 million tonnes @ 0.27% Cu, 0.38% Zn, 0.09% Pb and 4.9g/t Ag Sandiego Scoping Study On 1 June 2023 AuKing announced the results of a Scoping Study designed to assess the development of an open-pit and underground mining operation at the Sandiego deposit. The Scoping Study confirmed the potential for a financially robust, globally competitive copper/zinc project in north-east Western Australia, including nearby deposits owned by Cazaly Resources Ltd (ASX:CAZ). Mineralisation is proposed to be sourced from four open pit mines (Sandiego, Mt Angelo North, Onedin and a later-staged operation at the low-grade Bommie) and an underground mine at Sandiego – all to be processed from a central facility at Sandiego. Figure 1. Location of Koongie Park Scoping Study deposits Features of the Study outcomes included: • Life-of-Mine (LOM) of 11 years with an estimated total production of 110kt Cu, 38kt Zn and 355koz Ag • Processing nameplate capacity is 750ktpa of run-of-mine (ROM) ore • Strong project economics and financial returns including: o Pre-production Capex of A$134M, with an estimated 2.45 years payback period o Robust pre-tax NPV8 of approximately A$176.9M and 39.7% IRR o Life of Mine EBITDA of A$443.8M with an average operating cashflow of A$40.3M per annum. Page 4 AuKing Mining Limited 2023 Annual Report Further Acquisition of Joint Venture Interests Under the terms of the Earn-in and Joint Venture Agreement dated 8 February 2021, upon the participating interest of Astral Resources (AAR) in the Koongie Park Joint Venture diluting below 10%, AAR is deemed to have withdrawn from the KPJV and the remaining participating interest converts to a net smelter return royalty. As a result of further sole funding of project expenditure by AuKing during the year, AAR’s participating interest was deemed to have diluted below 10% with effect from 30 June 2023 and AuKing moved to the 100% participating interest at the same time. AAR retains the right to explore for and develop gold and other precious metals within the Koongie Park project area, including platinum group elements. These rights do not apply to the mining licences on which the Onedin and Sandiego deposits are situated. Sandiego North Soil Sampling Early in 2023, the Company completed a soil sampling program over the Sandiego North area to follow up on mineralisation identified in and around the waterbore drill hole (ASWB001) which is situated 700m north of the Sandiego deposit. The purpose of the soil program was to identify any geochemical continuity between Sandiego and Sandiego North. Figure 2 below shows the sample locations that were targeting the area between the main Sandiego deposit and Sandiego North – with the Sandiego mining study including a possible open pit mine, the ability to identify further openpittable resources at Sandiego North becomes quite significant. From the assay results received during the year (and as illustrated in Figure 2) there is a clear Cu geochemical trend from ASWB001 back towards the main Sandiego deposit to the south-west. Samples were taken on a nominal 50m x 20m spacing for a total of approx. 330 samples in total. The results from this program clearly demonstrate the need for several drill holes to test the extent of potential copper mineralisation across this very prospective zone. Figure 2 – AuKing’s Sandiego North soil sampling area Page 5 AuKing Mining Limited 2023 Annual Report Onedin Metallurgical Testwork A proposal to carry out a pre-feasibility study to establish a suitable metallurgical testwork program at Onedin was received during the year, but further work on such a program was deferred pending availability of additional funding sources for such activity. Tanzania Ownership 100% Uranium and Copper projects In January 2023, AuKing announced completion of the acquisition of its 100% interest in six projects in Tanzania (Ref ASX Release 31 January 2023). Four of the projects are prospective for uranium (Manyoni, Mkuju, Itigi and Magaga) and the other two are prospective for copper (Mpanda and Karema). Mkuju is the priority focus of exploration activities in Tanzania. Figure 3 - Locations of Tanzanian uranium and copper projects Mkuju Exploration Program On 30 August 2023 AuKing announced that exploration activities had commenced at the high priority Mkuju uranium project in southern Tanzania. Mkuju is situated immediately to the south-east of the world class Nyota uranium project that was the primary focus of exploration and development feasibility studies by then ASX-listed Mantra Resources Limited (MRU). Not long after completion of feasibility studies for Nyota in early 2011, MRU announced a A$1.16Bn takeover offer from the Russian group ARMZ. The takeover was finalised in mid-2011. MRU completed a high-resolution helicopter-borne radiometric survey over the entire Mkuju River Project area in mid2007 which resulted in the identification of several uranium anomalies requiring field evaluation. Geological mapping, ground radiometrics and trenching were completed on various target areas. Although preliminary in nature, the field observations were positive with visible uranium mineralisation being recorded in trenches at a number of the targets. The historical MRU mapping identified sub-horizontal beds of medium to coarse grained sandstones, interbedded, multiple layers of claystone and a distinctive stratigraphic marker horizon consisting of petrified wood fragments and tree trunks. The mapping confirmed the radiometric anomalism to be associated with two linear structural corridors and associated, second order north-west orientated jointing and faulting. Secondary uranium mineralisation is associated with the claystone and wood bearing gritstone horizons, with enrichment along the preferred structural zones. The location of the potential ‘remobilised’ uranium and testing of high-grade zones will be the focus of AuKing’s drilling activities. Page 6 AuKing Mining Limited 2023 Annual Report Soil and rock chip sampling at Mkuju A detailed summary of results achieved from the Stage 1 soil sampling and rock chip exploration program at Mkuju is set out in ASX Releases dated 16 October and 20 November 2023 respectively) and include the following highlights: • A total of 66 sample results included pXRF results of: 499ppm U3O8 from rock chip sample MKGS001 481ppm U3O8 from rock chip sample MKGS006 6,213ppm U3O8 from rock chip sample MKGS021 652ppm U3O8 from rock chip sample MKGS056 1,344ppm U3O8 from rock chip sample MKGS056 549ppm U3O8 from rock chip sample MKGS057 • As illustrated below, the results from this program demonstrate a close correlation with the radiometric survey undertaken by Mantra Resources Limited in 2007 – thereby leaving open a significant prospective area for future drilling activities. Figure 4 – Mkuju Soil and Rock Chip Sample Locations and Results Page 7 AuKing Mining Limited 2023 Annual Report Auger drilling at Mkuju A summary of the auger drilling results achieved from the Stage 1 exploration program at Mkuju are highlighted below and also set out in full in Annexure A of ASX release dated 29 December 2023: Hole ID MKAU23_011 MKAU23_014 MKAU23_018 MKAU23_020 Incl. MKAU23_035 MKAU23_042 MKAU23_045 Incl. From (m) To (m) Width Grade (U ppm) 10 11 1 38 0 1 1 159 2 6 4 48 0 4 4 598 0 1 1 1896 7 9 2 110 6 7 1 51 0 2 2 169 0 1 1 283 Table 1 – Mkuju highlighted auger drilling results A number of observations need to be made in relation to the auger drilling program: • Overall, the auger drilling program comprised 55 holes for a total of 547m drilled, with the deepest hole being 18m and an average hole depth of 10m; • AuKing’s planned drilling for the auger rig was to achieve depths of 30m per hole and that based on historical drilling in the area (including at Nyota), uranium mineralization was expected to be observed if these drilling depths were achieved; • However, as noted previously, the auger drilling rig has experienced several mechanical faults and other problems since arriving to site in August 2023 and these issues have prevented the 30m target depth being achieved for any drill hole; • AuKing’s exploration team believes this is the major reason why most of the auger holes did not identify uranium mineralisation – the holes were simply not deep enough; • the auger rig has now been removed from site and is undergoing a major overhaul in Dar es Salaam. Whether it returns to the Mkuju site will be a matter for AuKing to consider as it would appear to make more sense for future drilling to be undertaken by way of air core/RC drilling rig; and • Despite the ongoing mechanical problems, AuKing has still been able (in some of the drill holes) to identify significant uranium mineralization, including over to the eastern part of the Mkuju licence area. As has been the case with the reported rock chip and soil sample results, these auger drill results provide further correlation with the historical radiometric survey. More importantly, the results provide a strong basis for the next stage of proposed drilling at Mkuju which is planned for the first half of 2024, as soon as access is permissible after the wet season has concluded. Diamond drilling at Mkuju AuKing sought to mobilise the track-mounted diamond drilling rig in early November 2023 in an attempt to carry out a few quick drill holes to a depth of approximately 100m in order to test uranium mineralisation at certain priority target holes. Unfortunately, the rig arrived at site in mid-November and then had several days tramming (on its own tracks) to the first drill hole location. Mechanical breakdowns then occurred over the next few weeks with the rig and then final set-up delays meant that drilling did not commence on the first proposed hole until the week before Christmas. A total of 52m of diamond drilling was completed before the crew departed site for the Christmas/New Year vacation period. Rainfall has continued over this period and the prospect of further diamond drilling at this time is very unlikely. The delays experienced with the diamond rig were frustrating and unfortunate and point to a greater likelihood that a track-mounted air core/RC drilling rig will be utilized for the planned future drilling at Mkuju. Initial Itigi Drilling Program Between May and July 2023 AuKing completed a total of 1,060.5m of air core (AC) drilling at the Itigi project (to the west of Manyoni in central Tanzania). This drilling was completed across 72 holes, to depths up to 15m where bedrock was encountered. Assay results received by AuKing’s exploration team were largely consistent with the initial XRF field measurements of the drilling samples. Although there were anomalous U3O8 readings across several drill holes (including up to a maximum reading of 304ppm U3O8), AuKing’s drilling at Itigi was unable to replicate the historically-reported results in this area. As a consequence (and largely due to the expanded focus on Mkuju to the south) it is likely that AuKing will abandon it licence holdings at Itigi. Page 8 AuKing Mining Limited 2023 Annual Report Revocation of Manyoni Licences On 27 February 2023 AuKing advised of a decision by the Tanzanian Mining Commission to revoke two of the Company’s PL holdings at Manyoni – PLs 12193 and 12194. As a result of this decision AuKing filed an appeal to the Tanzanian Minister of Mining under the relevant provisions of the Mining Act. A response to that appeal is still pending. Throughout the course of the year AuKing continued to liaise with representatives of the Ministry and also the Mining Commission, hopeful of a positive outcome from the discussions. Expansion of Mkuju Area In November 2023, AuKing secured the grant of three new prospecting licences (PLs) to the east of the existing Mkuju project areas, covering a highly prospective area of approximately 345 sq kms. As demonstrated in Figure 5 below, all three PL areas cover radiometric “highs” that appear to be of similar quality to the world class Nyota uranium deposit to the immediate north-east. Figure 5 – New Mkuju Licence Areas Page 9 AuKing Mining Limited 2023 Annual Report Corporate Activities Capital Raising During the March Quarter the Company completed a share placement to certain professional investors of 21,260,000 shares at 10c each to raise $2,126,000 (less issue costs). The 10c issue price represented a 69% premium to the prevailing share price on ASX. A further 10,630,000 free attaching options exercisable at 20c on or before 30 September 2025 were issued as part of the placement. The issue of these shares and options had previously been approved by AuKing shareholders at the 16 December 2022 extraordinary general meeting. In November 2023, the Company completed a share placement to sophisticated and professional investors to raise $1.05 million (before costs) through the issue of 26,250,000 shares at an issue price of $0.04 each (Placement Shares). An additional series of free-attaching options (Placement Options) was issued with the Placement Shares on a 1:2 basis exercisable at 10c on or before 31 December 2025. Mr Asimwe Kabunga, the Board Chairman and major shareholder, agreed to participate in the Placement to the extent of a further $200,000, taking the total funds raised (excluding costs) to $1.25 million. Board Changes During the course of 2023, certain changes occurred to the AuKing Board of Directors as follows: • Ms Anna Nahajski-Staples retired as a director and co-Chairman in early April; • Mr Ian Hodkinson retired as a director in early April; and • Mr Zuliang (Park) Wei was appointed as an additional director in early June. Lapse of AKNO Options On 30 June 2023, the existing ASX-listed AKNO options lapsed without any of them being exercised. There was a total of 42,871,380 of these AKNO options. Competent Persons’ Statements The information relating to Exploration Results as outlined above is extracted from previous ASX announcements made by the Company. These reports are available to view on the Company’s website www.aukingmining.com. This report was issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Annual Mineral Resource Statement In accordance with ASX Listing Rule 5.21, the Company reviews and reports its Mineral Resources at least annually. The date of reporting is 31 December each year, to coincide with the Company’s end of financial year balance date. If there are any material changes to its Mineral Resources over the course of the year, the Company is required to promptly report these changes. The Company has not reported any changes to its Mineral Resources during the 2023 calendar year. The current reported JORC 2012 resource estimate for the Koongie Park project (Sandiego and Onedin) is 8.9Mt @ 1.01% Cu, 3.67% Zn, 0.16g/t Au, 32g/t Ag and 0.77% Pb, details of which are set out below: Page 10 AuKing Mining Limited 2023 Annual Report Onedin Mineral Resource Estimate and Metal Tonnes Zone Classification Cu Dominant Indicated Inferred Indicated Zn Dominant Inferred Resource Total and Grades Zone Classification Cu Dominant Indicated Inferred Indicated Zn Dominant Inferred Total Metal Tonnes Note: Tonnes (Mt) 1.5 3.3 Copper (%) 1.1 0.5 0.6 4.3 Gold (g/t) 0.2 0.1 Silver (g/t) 47 34 4.8 Tonnes (Mt) 1.5 3.3 0.7 Copper (tonnes) 16,500 16,500 3.2 Zinc (tonnes) 9,000 141,900 0.1 Gold (oz) 9,600 10,600 38 Silver (Moz) 2.27 3.61 - 33,000 150,900 20,200 5.88 Zinc (%) Lead (%) 1.2 1.0 1.1 Lead (tonnes) 18,000 33,000 51,000 (1) Reported tonnes and grade are rounded (2) Reporting cut-off grades of 0.4% Cu and 1% Zn have been applied to the Onedin deposit Sandiego Mineral Resource Estimate and Metal Tonnes Indicated Inferred Sub Total Indicated Tonnes (Mt) 1.7 0.3 2.0 2.0 Copper (%) 2.3 1.6 2.2 0.6 Inferred 0.1 Indicated Inferred Sub Total Indicated 2.1 4.1 Tonnes (Mt) 1.7 0.3 2.0 2.0 Inferred Sub Total Total Metal Tonnes Classification Cu Dominant Zn Dominant Sub Total Resource Total and Grades Classification Cu Dominant Zn Dominant Note: 0.8 3.0 1.1 7.3 Gold (g/t) 0.3 0.2 0.3 0.1 Silver (g/t) 18 5 16 35 0.2 6.1 0.1 10 0.1 0.6 1.4 Copper (tonnes) 39,100 4,800 43,900 12,000 7.3 4.3 Zinc (tonnes) 13,600 9,000 22,600 146,000 0.1 0.2 Gold (oz) 16,400 1,900 18,300 6,400 34 25 Silver (Moz) 0.98 0.05 1.03 2.25 0.7 0.4 0.1 200 6,100 300 0.03 100 2.1 12,200 56,100 152,100 174,700 6,700 25,000 2.28 3.31 14,100 17,500 Zinc (%) Lead (%) 0.2 0.0 0.1 0.7 Lead (tonnes) 3,400 0 3,400 14,000 (1) Reported tonnes and grade are rounded (2) Reporting cut-off grades of 0.8% Cu and 3% Zn have been applied to the Sandiego deposit The information in this report that relates to Mineral Resources at the Koongie Park Project (Sandiego and Onedin) is based on information compiled by Mr David Williams who is a member of the Australian Institute of Geoscientists. Mr Williams is a Principal Consultant Geologist (Brisbane) of CSA Global and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Williams consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The current reported JORC 2012 resource estimate for the Koongie Park project (Emull) is 12.2Mt @ 0.27% Cu, 0.38% Zn, 0.09% Pb, and 4.9g/t Ag, details of which are set out below: Page 11 AuKing Mining Limited 2023 Annual Report Emull Mineral Resource Estimate and Metal Tonnes December 2022 Mineral Resource Estimate (0.15% Cu Cut-off) Indicated Mineral Resource Type Tonnage Mt Cu % Zn % Pb % Ag g/t Cu t Zn t Pb t Ag koz Oxide Transitional Fresh 0.26 0.34 1.8 0.28 0.29 0.31 0.72 0.68 0.57 0.16 0.17 0.14 5.4 7.0 6.6 700 1,000 5,600 1,800 2,300 10,400 400 600 2,400 50 80 390 Total 2.4 0.30 0.60 0.14 6.6 7,300 14,500 3,400 510 Type Tonnage Mt Cu % Zn % Pb % Ag g/t Cu t Zn t Pb t Ag koz Oxide Transitional Fresh 0.04 0.05 9.7 0.24 0.25 0.26 0.23 0.18 0.33 0.05 0.04 0.08 3.1 3.4 4.6 100 100 25,200 100 100 32,300 7,400 10 1,420 Total 9.8 0.26 0.33 0.08 4.5 25,400 32,500 7,400 1,430 Type Tonnage Mt Cu % Zn % Pb % Ag g/t Cu t Zn t Pb t Ag koz Oxide Transitional Fresh 0.29 0.39 11.5 0.28 0.28 0.27 0.66 0.61 0.37 0.14 0.15 0.09 5.2 6.6 4.9 800 1,100 30,800 1,900 2,400 42,700 400 600 9,800 50 80 1,810 Total 12.2 0.27 0.38 0.09 4.9 32,700 47,000 10,800 1,940 Inferred Mineral Resource Total Mineral Resource The information in this Report that relates to the Mineral Resource Estimate for Emull is based on information compiled by Mr Shaun Searle who is a Member of the Australasian Institute of Geoscientists. Mr Searle is an employee of Ashmore Advisory Pty Ltd and independent consultant to AuKing Mining Limited. Mr Searle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Searle consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. In completing the review for the period ended 31 December 2023, the historical resource factors were reviewed and found to be relevant and current. The Koongie Park project has not been converted to an active operation yet and hence no material resource depletion has occurred for the review period. Material Changes and Resource Statement Comparison The 2012 JORC resource at Koongie Park (Sandiego and Onedin) and the maiden Emull resource (as shown above) are the current versions of the Mineral Resource estimates. The information in this Annual Report that relates to Mineral Resources was prepared and first disclosed under the JORC Code 2012 Edition. The Company is not aware of any new information or data that materially affects the information as previously released and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Governance Arrangements and Internal Controls AuKing has ensured that the Mineral Resources quoted are subject to good governance arrangements and internal controls. The Mineral Resources reported have been generated by suitably qualified personnel who are experienced in best practices in modelling and estimation methods, and AuKing has also undertaken reviews of the quality and suitability of the underlying information used to determine the resource estimate. Page 12 AuKing Mining Limited 2023 Annual Report Annual Review Competent Persons Statement The information in this Annual Report that relates to the mineral resources and ore reserves statement as a whole has been reviewed and approved by Mr Chris Bittar who is a member of the Australasian Institute of Mining and Metallurgy. Mr Bittar is an employee of AuKing Mining Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Bittar consents to the inclusion in this Report of the matters based on his information in the form and context in which it appears. Page 13 AuKing Mining Limited 2023 Annual Report DIRECTORS AND OFFICERS The following persons were directors of AuKing Mining Limited (‘AKN’ or ‘the Company’) during the whole of the financial period and up to the date of this report, unless stated: Current Directors Mr Asimwe Kabunga (Appointed 19 October 2022) Executive Co-Chair, BSc (Mathematics and Physics) Asimwe Kabunga is a Tanzanian born Australian entrepreneur with multiple interests in mining and IT businesses around the world. Mr Kabunga has extensive experience in the mining industry, logistics, land access, tenure negotiation and acquisition, as well as a developer of technology businesses. Mr Kabunga has been instrumental in establishing the Tanzania Community of Western Australia Inc., and served as its first President. Mr Kabunga was also a founding member of Rafiki Surgical Missions and Safina Foundation, both NGOs dedicated to helping children in Tanzania. Mr Kabunga has been a director of the following ASX listed companies in the prior 3 years:    Lindian Resources Limited (appointed June 2017) Resource Mining Corporation (appointed May 2022) Volt Resources Limited (appointed August 2017) Mr Peter Tighe (Appointed 9 June 2021) Non-Executive Director Mr Tighe started his working career in the family-owned JH Leavy & Co business, which is one of the longest established fruit and vegetable wholesaling businesses in the Brisbane Markets at Rocklea and has been trading since the late 1800s. As the owner and managing director of JH Leavy & Co, Mr Tighe expanded the company along with highly respected farms and packhouses that have been pleased to supply the company with top quality fruit and vegetables for wholesale/export for over 40 years. JH Leavy & Co is considered one of the most successful businesses operating within the Brisbane Markets. Mr Tighe has been a director of Brisbane Markets Limited (BML) since 1999. BML is the owner of the Brisbane Markets® site and is responsible for its ongoing management and development of its $350m asset portfolio. As the proprietor of the site, BML has over 250 leases in place including selling floors, industrial warehousing, retail stores and commercial offices. BML acknowledges its role as an economic hub of Queensland, facilitating the trade of $1.5 billion worth of fresh produce annually, supporting local and regional businesses of the horticulture industry. As a Board member Mr Tighe has held roles in various sub-committees which include Chairman of Safety and Tenant Advisory Committee, BML Strategy Investment Committee, and Legal and Compliance Committee. In 2016 the JH Leavy & Co business was sold but Mr Tighe has continued as the CEO of Global Fresh Australia, trading as JH Leavy & Co, to ensure a successful transition of ownership. He has not been a Director of any other Australian listed company in the last three years. Mr ShiZhou Yin (Appointed 9 June 2021) Non-Executive Director Mr. Yin is a Chinese national without any foreign permanent residence, holds a Master of Professional Accounting degree and is a Chinese Certified Public Accountant and a Senior Accountant. From September 1994 to September 2010, Mr. Yin served successively as Accountant of Beijing No. 2 Water Pipe Factory, Audit Manager and Audit Partner of Yuehua Certified Public Accountants Firm, and Senior Partner of Zhongrui Yuehua Certified Public Accountants Co., Ltd. From October 2010 to May 2011, Mr Yin served as Chief Financial Officer of JCHX Mining Management Co., Ltd. From May 2011 to April 2017, Mr Yin served as Chief Financial Officer and Secretary of the Board of Directors of JCHX Mining Management Co., LTD (Shanghai Stock Exchange Code: 603979). From April 2017 Mr Yin has been Vice President, Chief Financial Officer and Secretary of the Board of JCHX Group Co., Ltd. Mr. Yin has been the chairman of the Board of Supervisors of JCHX Mining Management Co., Ltd (Shanghai Stock Exchange Code: 603979) since May 2017. Mr Yin has been an Independent Director of: Page 14 AuKing Mining Limited 2023 Annual Report    Beijing Century Real Technology Co.,Ltd. (Shenzhen Stock Exchange Code: 300150) since September 2018; Beijing Yiqiao Shenzhou Technology Co., LTD. (which is to be listed on Growth Enterprise Market (“GEM”) of Shenzhen Stock Exchange) since March 2020; and previously, from October 2009 to March 2015, Dalian East New Energy Development Co., Ltd. (Shenzhen Stock Exchange Code: 300125). He has not been a Director of any other Australian listed company in the last three years. Mr Park (Zuliang) Wei (Appointed 5 June 2023) Non-Executive Director, BA Park Wei is a Chinese born Australian entrepreneur with multiple interests in property, mining and finance businesses around the world. Mr Wei is currently the Chairman of a fund manager, PAN Australia Fund Management Pty Ltd (PAFM) and the founder of Top Pacific Group, which was established in 1994 and diversified into property development, construction, real estate sales, building and strata management. He developed extensive residential property projects with total turnover of more than $3 billion. In 2019, Mr Wei took over PAFM (formerly Boill Fund Management Pty Ltd, a wholesale fund manager) to be main shareholder and Managing Director. Mr Wei has successfully invested in a number of equity investment projects in China and Australia, achieving good returns. Mr Wei also helped JAT fundraise $15 million to acquire the Australian dairy company ANMA. He has not been a Director of any other Australian listed company in the last three years. Interests in the shares and options of the Company As at the date of this report, the interests of the Directors in the shares and options of AuKing Mining Limited are shown in the table below: Directo