银泰黄金股份有限公司 2023 年度独立董事述职报告 二○二四年三月 刘洪渭，1962 年 12 月生，山东大学教授、博士、中国注册会计师。曾任山 东矿业学院教务处实验设备科科长、济南研究生部经济系副主任、副教授；山东 大学管理学院会计学系副主任、主任、院长助理、副院长、教授；山东大学财务 部部长、学科建设与发展规划部部长；山东大学齐鲁医学院党工委书记、管理学 院教授；现任山东威高骨科材料股份有限公司、齐鲁高速公路股份有限公司及公 司独立董事。 本人在担任公司独立董事期间，未在公司担任除独立董事以外的任何职务， 也未在公司主要股东单位担任任何职务，与公司以及主要股东之间不存在妨碍本 人进行独立客观判断的关系，不存在影响独立董事独立性的情况，符合《上市公 司独立董事管理办法》《深圳证券交易所上市公司自律监管指引第 1 号—主板上 市公司规范运作》等法律法规、规范性文件关于独立董事独立性的相关要求。 二、独立董事年度履职情况 （一）出席会议情况 1、出席股东大会会议情况 银泰黄金股份有限公司 2023 年度独立董事述职报告 本人作为银泰黄金股份有限公司（以下简称"公司"）的独立董事，2023 年 度严格按照《中华 ...

证券代码：000975 证券简称：银泰黄金 公告编号：2024-011 银泰黄金股份有限公司 关于"质量回报双提升"行动方案的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 为践行中央政治局会议提出的"要活跃资本市场、提振投资者信心"及国常 会提出的"要大力提升上市公司质量和投资价值，采取更加有力有效措施，着力 稳市场、稳信心"的指导思想，银泰黄金股份有限公司（以下简称"公司"）坚 守"以投资者为本"的理念，做好上市公司规范运作，守牢风险底线，传递公司 价值，以为全体股东创造持续增长的价值为目标，以"高质量发展"和"增厚股 东回报"为行动路径，结合公司战略规划、生产经营等情况制定了"质量回报双 提升"行动方案。具体举措如下： 一、坚定战略自信，强化执行实效 2023 年，公司控股股东变更为山东黄金矿业股份有限公司（以下简称"山 东黄金"），立足新形势，面向新机遇，公司制定了新的发展战略，谋求二次飞跃。 公司确立了"以价值创造为中心、以全球发展为引擎的成长型国际黄金矿业公司" 的战略定位，锚定了未来发展目标，即力争十四五末矿产金产量 12 吨，金资源 量 ...

证券代码：000975 证券简称：银泰黄金 公告编号：2024-010 银泰黄金股份有限公司 2024年第一次临时股东大会决议公告 本公司及其董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 一、重要提示 本次会议召开期间没有增加、否决或变更提案。 二、召开会议基本情况 （一）会议召集人：公司董事会 （二）会议召开方式：现场投票与网络投票相结合的方式 1、现场会议时间：2024年3月5日（星期二）下午14:30开始，会期半天。 2、网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 3 月 5 日上午 9:15—9:25，9:30—11:30，下午 13:00—15:00； 通过互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为： 2024 年 3 月 5 日上午 9:15—下午 15:00。 （四）会议地点：北京市朝阳区金和东路 20 号院正大中心北塔 30 层会议室 （五）会议主持人：董事长刘钦 （六）本次会议的召开符合《公司法》、《深圳证券交易所股票上市规则》及 《公司章程》的有关规定。 三、会议的出 ...

北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮编：100025 34/F, Tower 3, China Central Place, 77 Jianguo Road, Beijing 100025, China T:（86-10）5809 1000 F:（86-10）5809 1100 北京市竞天公诚律师事务所 关于银泰黄金股份有限公司 2024 年第一次临时股东大会的法律意见书 基于上述本所律师根据有关法律、行政法规、部门规章和规范性文件的要求，按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、本次股东大会的召集和召开程序 致：银泰黄金股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受银泰黄金股份有限公司（以下简 称"公司"）的委托，指派本所律师参加公司 2024 年第一次临时股东大会（以下简称"本次 会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证 券法》（以下简称"《证券法》"）、《上市公司股东大会规则（2022 年修订）》（以下简称"《股 东大会规则》"）、《深圳证券交易所上市公司股东大会网络投票 ...

Investment Rating - The report assigns an "OUTPERFORM" rating to Yintai Gold with a target price of RMB 16.65 [2][4][11] Core Insights - Yintai Gold plans to acquire Osino Resource for approximately CAD 368 million (around RMB 1.961 billion), which will give Yintai 100% ownership of Osino [3][10] - The acquisition aligns with Yintai Gold's strategic goal to reach 15 tonnes of gold production and 300 tonnes of gold resources and reserves by the end of 2026 [4][11] - The Twin Hills project, part of Osino's assets, has significant gold reserves and exploration potential, with 66.86 tonnes of gold reserves and a production target of 5.04 tonnes annually by 2026 [3][11] Financial Summary - Revenue projections for Yintai Gold are expected to grow from RMB 8.382 billion in 2022 to RMB 11.529 billion by 2025, with a compound annual growth rate (CAGR) of approximately 16.4% [5][8] - Net profit is forecasted to increase from RMB 1.124 billion in 2022 to RMB 2.359 billion in 2025, reflecting a significant growth trajectory [5][8] - Earnings per share (EPS) are projected to rise from RMB 0.40 in 2022 to RMB 0.85 in 2025 [5][8] Production and Cost Metrics - The Twin Hills project is designed for an annual production capacity of 5 tonnes, with all-in sustaining costs estimated at USD 1011 per ounce [3][11] - The project is set to begin construction in July 2024 and is expected to commence production in 2026 [3][11] Strategic Development - Yintai Gold's strategy emphasizes overseas expansion and resource acquisition, leveraging its international management team to enhance operational capabilities [4][11] - The acquisition of Osino Resource is seen as a critical step in achieving the company's long-term growth objectives [4][11]

Investment Rating - The investment rating for the company is "Buy" [1][8]. Core Views - The company announced plans to acquire 100% of Osino Resources Corp. at a price of CAD 1.9 per share, totaling CAD 368 million. The main asset is the Twin Hills gold mine project in Namibia, which has a gold resource of 99 tons [3]. - The Twin Hills gold mine is expected to start production in 2026, with an annual gold output of approximately 50,000 tons. The feasibility study indicates a processing capacity of 5 million tons per year and a total capital expenditure of USD 365 million [3]. - The company aims to enhance its international presence and become a growth-oriented international gold mining company. The strategic plan includes achieving gold production of 12 tons by the end of 2025 and 28 tons by the end of 2030 [3]. - The company is positioned as a leading domestic gold mining enterprise with significant cost advantages and is expected to benefit from a favorable long-term gold price outlook due to anticipated interest rate cuts by the Federal Reserve [3]. Financial Summary - The company’s projected revenues for 2023, 2024, and 2025 are CNY 93.32 billion, CNY 103.62 billion, and CNY 118.64 billion, respectively, with corresponding net profits of CNY 14.92 billion, CNY 19.26 billion, and CNY 24.43 billion [4]. - The earnings per share (EPS) are expected to be CNY 0.54, CNY 0.69, and CNY 0.88 for the years 2023, 2024, and 2025, respectively [4].

Investment Rating - The report assigns a "Buy" rating to the company, with a reasonable value target of 18.66 CNY per share based on a 30x PE valuation for 2024 [3]. Core Views - The company is making a strategic move by acquiring 100% of Osino for approximately 19.45 billion CNY, which aligns with its focus on the mining sector and gold production [1]. - The acquisition is expected to increase the company's gold production by about 5 tons annually, potentially raising its gold equity by 75% and helping achieve its strategic production goals by 2026 [1]. - The Osino project has significant resources, including a mining right for the Twin Hills gold mine in Namibia, with ore reserves of 64.5 million tons and a gold metal content of 67 tons [1]. - The project is projected to have a construction capital expenditure of 365 million USD (approximately 2.6 billion CNY) and an all-in sustaining cost (AISC) of about 1011 USD/oz (234 CNY/g) [1]. - Assuming a gold price of 500 CNY/g (2160 USD/oz), the project could yield a net profit of approximately 600-700 million CNY upon reaching full production [1]. Financial Summary - The company's revenue is projected to grow from 9.318 billion CNY in 2023 to 10.253 billion CNY in 2025, with a compound annual growth rate (CAGR) of 5.2% [2]. - The expected earnings per share (EPS) for 2023, 2024, and 2025 are 0.55 CNY, 0.62 CNY, and 0.68 CNY, respectively, reflecting a growth trajectory [2]. - The report anticipates a significant increase in net profit from 1.538 billion CNY in 2023 to 1.887 billion CNY in 2025, indicating a strong recovery and growth potential [2].

2月 26 日，公司发布收购Osino Resources Cop.股权的公告，公 司拟以每股1.90 加元的价格现金收购Osino Resources Cop.全 部已发行且流通的普通股及待稀释股份，交易金额为3.68亿加元， 收购完成后公司将间接持有Osino 100%的股权。 Osino 资源储量丰富，有效增厚公司黄金储备。Osino主要资产为 位于纳米比亚的 Twin Hills 金矿项目，根据 Osino 公布的最新 43-101 标准报告，Twin Hills 金矿项目储量矿石量6450 吨，金 品位 1.04 g/t，金含量66.86 吨；资源量矿石量9130 吨，金品位 1.09 g/t，金含量99.21 吨。Osino 还拥有Ondundu 金矿探矿权， 拥有推断资源量约27.99 吨，品位 1.13 g/t。截至2022 年底公司 保有金资源173.9 吨，本次收购完成后将大幅增厚公司黄金储备。 规划年产金 5吨，助力公司战略目标实现。据Twin Hills 金矿项 目可研报告，项目选厂设计产能500 万吨/年，建设性资本开支为 3.65 亿美元，计划生产13年，预计矿山寿命期内平均年产金 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2][6]. Core Views - The company plans to acquire Osino Resource at a price of CAD 1.90 per share, totaling approximately CAD 368 million (around CNY 1.961 billion) [6]. - Osino Resource has significant mining resources, including the Twin Hills project with gold reserves of 66.86 tons and an average grade of 1.04 g/t, and the Ondundu project with inferred resources of 27.99 tons [6]. - The company aims for an annual production capacity of 5 tons, with the project expected to commence production in 2026 [6][7]. - The acquisition aligns with the company's strategic development plan, targeting a gold production of 15 tons and resources of 300 tons by the end of 2026 [7]. - The company is expected to experience rapid profit growth over the next three years, with projected EPS of CNY 0.55, 0.62, and 0.85 for 2023, 2024, and 2025 respectively [7][8]. Financial Summary - Revenue is projected to grow from CNY 8,382 million in 2022 to CNY 11,529 million by 2025, with a year-on-year growth rate of 16.4% in 2025 [8][11]. - Net profit is expected to increase from CNY 1,124 million in 2022 to CNY 2,359 million in 2025, reflecting a growth rate of 37.8% in 2025 [8][11]. - The gross margin is anticipated to improve from 24.8% in 2022 to 36.9% in 2025 [11][12]. Valuation - The company is assigned a PE valuation of 26-27 times for 2024, corresponding to a reasonable value range of CNY 16.03 to 16.65 per share [7][8]. - The company’s financial metrics indicate a strong growth trajectory, with a projected net profit margin of 20.5% by 2025 [11].

银泰黄金股份有限公司 关于收购Osino Resources Corp.股权的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、银泰黄金股份有限公司（以下简称"公司"）拟通过下属海南盛蔚贸易 有限公司在加拿大设立的全资子公司（以下简称"买方"），以每股 1.90 加元 的价格，现金方式收购 Osino Resources Corp（以下简称" . Osino"或"目标公司"） 现有全部已发行且流通的普通股及待稀释股份。本次收购的交易金额约为 3.68 亿加元，收购完成后，公司将通过买方持有 Osino 100%股权。 2、本次交易尚需 Osino 股东大会以及相关监管机构、法院和证券交易所批 准，能否获得批准尚存在不确定性。 证券代码：000975 证券简称：银泰黄金 公告编号：2024-009 一、本次交易概述 （一）2024 年 2 月 25 日，公司召开第九届董事会第三次会议，审议通过了 《关于收购 Osino Resources Corp.股权的议案》，公司 8 名董事均参与表决，以 全票同意表决通过本议案。 （二）买方以每股1. ...