Core Viewpoint - Angkor Resources Corp. has successfully completed the sale of its 40% interest in the Evesham Macklin oil and gas lands, which has resulted in the elimination of $3,800,000 in debt and provided $1,000,000 in net proceeds for the company [1][4]. Group 1: Transaction Details - The sale was executed at a purchase price of $4,800,000, with all payments received and deposited into the company's accounts [2][3]. - The transaction received conditional approval from the TSX Venture Exchange and was supported by over 99% of shareholder votes during the Annual General and Special Meeting held on January 29, 2026 [1][4]. Group 2: Financial Impact - The sale removed $3,800,000 in debt from the company's balance sheet, enhancing its financial position [4]. - The company now has $1,000,000 in net proceeds, which will be utilized for further investments and operational activities [4][5]. Group 3: Future Focus - The company plans to redirect its resources towards advancing its Cambodian onshore Block VIII oil and gas project, which is seen as a significant growth opportunity [5]. - The exploration activities in Cambodia aim to establish the country as an oil and gas producer, contributing to energy independence and job creation [5][7]. Group 4: Company Overview - Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on mineral and energy solutions in Cambodia [6]. - The company holds two mineral exploration licenses in Cambodia and is actively pursuing oil and gas exploration in Block VIII, covering an area of over 4,095 square kilometers [6][7].

Financial Data and Key Metrics Changes - Headline earnings per share for 2025 increased by 281% to ZAR 2.44 per share [56] - Adjusted EBITDA increased almost threefold, from ZAR 13 billion to just under ZAR 38 billion, a 189% increase [56] - Net debt to Adjusted EBITDA decreased from 1.77 times at the end of 2024 to 0.59 times at the end of 2025 [57] Business Line Data and Key Metrics Changes - Total full year PGM production reached 1.8 million ounces, aligning with guidance and stable year-on-year [22] - Underground production increased by 2% to over 1.6 million ounces, supported by improvements at Rustenburg [23] - Total production for gold operations, including DRDGold, was lower by 10% at 19.7 tons, with underground production reduced by 8% [27] Market Data and Key Metrics Changes - Gold spot prices broke the $4,500 mark during December, up 73% since the beginning of the year [64] - Platinum imports into the U.S. increased over 50% year-on-year, with significant flows driven by tariff uncertainty [66] - Lithium prices moved from low $7,000 per ton levels up to just over $16,000 per ton currently [67] Company Strategy and Development Direction - The company is focusing on simplification of operations and maximizing operating margins through operational excellence [3] - A disciplined capital allocation framework is in place, with a third towards shareholder returns, a third towards reducing gross debt, and a third towards growth [4] - The company aims to convert a large percentage of their abundant resources into reserves in the coming years [44] Management's Comments on Operating Environment and Future Outlook - The management noted a significant change in the latter half of 2025, including a leadership transition and a strategic refresh [2] - The outlook for 2026 is positive, with expectations of additional earnings and cash flow improvements due to rising prices [26] - The company remains committed to eliminating fatal incidents and enhancing safety culture as a priority [20] Other Important Information - The company declared a dividend of ZAR 1.31 per share, reflecting a 2% yield and marking a return to dividend-paying territory [14] - A settlement payment of $215 million was made regarding the Appian court case [7] - The renewable energy program aims to reduce emissions by 40% by 2030, with significant savings and carbon dioxide reductions expected [45] Q&A Session Summary Question: What are the expectations for gold prices moving forward? - The company remains bullish on gold, anticipating continued price support due to geopolitical factors and market dynamics [68] Question: How is the company addressing safety concerns? - The management emphasized a focus on embedding a fatal elimination strategy and enhancing compliance through a culture of accountability [20] Question: What is the outlook for lithium production? - The company is optimistic about the lithium market, with plans for phased production ramp-up and a focus on optimizing costs [49]

Core Viewpoint - KraneShares MSCI China Clean Technology ETF (KGRN) focuses on China's energy-transition ecosystem, providing exposure to companies involved in renewable energy, electric vehicles, batteries, power-grid modernization, industrial efficiency, and environmental services [1] Group 1: Investment Proposition - The portfolio emphasizes businesses aligned with decarbonization and resource optimization, reflecting structural demand for electrification and clean infrastructure [1] - It concentrates on innovation-intensive industries where competitive dynamics, supply chains, and technology cycles significantly influence outcomes [1] - Return patterns are typically growth-oriented and momentum-sensitive, with cyclicality linked to capital-expenditure cycles, commodity inputs, and policy support pathways [1] Group 2: Target Investors - KGRN serves as a thematic satellite for energy-transition mandates, a values-alignment sleeve for sustainability frameworks, or a targeted growth diversifier complementing broader China or global equities [1] - Likely investors include thematic allocators seeking long-term exposure to transition leaders and multi-asset managers using focused tilts to express sustainability objectives [1] Group 3: Market Dynamics - Tailwinds for KGRN typically include clear policy direction, declining technology costs, and infrastructure build-outs [1] - Potential headwinds may arise from tightening financial conditions or subsidy resets [1] - A key risk to monitor is the concentration in specific industries and policy-linked segments, which can increase volatility and amplify drawdowns [1]

Core Insights - Angkor Resources Corp. has successfully completed a 350-line kilometer 2D seismic program on Block VIII in Cambodia, marking the first onshore seismic activity in the country since 2013 [1][2] Group 1: Seismic Program Details - The seismic program utilized EnviroSeis equipment to ensure low impact and high data coverage across four provinces: Sihanoukville, Kampong Speu, Koh Kong, and Kampot [2] - The program lasted 47 days, with a team of 53 people working 12-hour shifts, seven days a week, including 13 Thai contractors and 40 local Khmer personnel, some of whom were trainees from the Institute of Technology [4] - Preliminary processing of the seismic data has already revealed a broad, closed structure with complex stratigraphy, although further drilling is required to confirm the formations [5] Group 2: Future Plans and Assessments - The company plans to conduct a preliminary assessment of the seismic data as it becomes available, followed by a secondary assessment to define potential drill targets [3] - Data processing and interpretation will occur over several months, with results expected to arrive in segments as each seismic line is processed [3] Group 3: Company Background - Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on resource optimization in Cambodia and Canada, including a carbon capture and gas conservation project in Saskatchewan [10] - The company's energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering approximately 4,277 square kilometers in southwest Cambodia, following a reduction in size due to the removal of parks and protected areas [10]