Core Viewpoint - The geological team from Guangxi 272 Geological Team has made significant progress in identifying safety hazards in a long-operating lead-zinc mine in Cengxi City, utilizing advanced technologies to support safe mining operations [1][2] Group 1: Project Overview - The mine, established in the 1960s, covers an area of over 13 square kilometers with underground tunnels extending more than 500 meters below the surface [1] - Approximately 90,000 cubic meters of mined-out areas have been formed, which, while currently stable, pose risks due to complex geological structures and potential hydrological hazards [1] - Electromagnetic interference from underground equipment has presented challenges to traditional detection methods [1] Group 2: Technological Innovations - The project team implemented a "combined detection" approach, utilizing microseismic and spectral ratio methods to capture natural seismic wave signals and accurately map the three-dimensional shape of mined-out areas [1] - Audio electromagnetic depth measurement technology was employed to trace the distribution of faults and fractured zones, complemented by high-density electrical methods and transient electromagnetic methods to identify underground aquifers and flow channels [1] - Remote sensing technology was used to analyze landslide and collapse distributions across the mining area, providing a basis for safety risk assessments of mined-out and collapsed areas [1] Group 3: Achievements and Future Implications - The geological team has completed geological surveys over 13 square kilometers and conducted geophysical exploration over 5 square kilometers, establishing over 3,200 measurement points [2] - Remote sensing technology has preliminarily identified approximately 170,000 square meters of suspected landslide or collapse areas within the 13 square kilometers [2] - The project not only resolves safety issues in the old mine but also develops a methodology for disaster factor investigation suitable for the characteristics of mining areas in Guangxi, which can serve as a valuable reference for the safety production of other old mines [2]

Core Viewpoint - JinHui Co., Ltd. (603132) has reported significant progress in its Huixian Dongpo lead-zinc mine exploration project, with a high mineral discovery rate and promising geological findings [1] Group 1: Project Achievements - The project has completed approximately 26,000 meters of drilling, achieving a mineral discovery rate exceeding 80% [1] - A stable mineral layer has been discovered at a depth of 600 meters below the surface, measuring approximately 1,500 meters in length and 500 meters in width [1] - The thickness of the mineral body ranges from 2 to 20 meters, with an average lead-zinc grade of 6% to 8% [1] Group 2: Future Plans - The company anticipates completing the exploration and detailed survey work by 2026, followed by the submission of a report [1] - This groundwork is expected to lay a solid resource foundation for the subsequent transition from exploration to mining and capacity enhancement [1]

Core Insights - The buyer of a 15.5% stake in Xinjiang Huoshaoyun Lead-Zinc Mine Company has been revealed as Xinfeng Group Holdings, which acquired the stake for 2.4955 billion yuan [2][10] - The transaction reflects a significant increase in the company's valuation, with the total estimated value of Xinjiang Huoshaoyun Lead-Zinc Mine rising from 12.3 billion yuan to 16.1 billion yuan within 14 months [10] Transaction Details - The stake was sold by Xinjiang Geological Mining Investment Group, with the transaction completed on June 25, 2025 [2][4] - The assessed price for the stake was approximately 2.4929 billion yuan, with a final transaction price of 2.4955 billion yuan, indicating a 0.10% asset appreciation [4] Shareholder Changes - Following the transaction, the ownership structure of Xinjiang Huoshaoyun Lead-Zinc Mine changed from Xinjiang Geological Mining Investment Group holding 75.5% and Xinfeng Group holding 24.5% to Xinjiang Geological Mining Investment Group holding 60% and Xinfeng Group holding 40% [4] Company Background - Xinjiang Huoshaoyun Lead-Zinc Mine Company, established on January 27, 2023, has a registered capital of 9 billion yuan and is known for having the largest lead-zinc ore deposit in China, with proven reserves close to 19 million tons [12] - In 2024, the company reported revenues of 595 million yuan and a net profit of 171 million yuan, while in Q1 2025, revenues were 125 million yuan with a net profit of approximately 65.6 million yuan [12] Financial Overview - As of March 31, 2025, Xinjiang Huoshaoyun Lead-Zinc Mine Company had total assets of 13.328 billion yuan, total liabilities of 10.216 billion yuan, and owner’s equity of 3.112 billion yuan [12] - The valuation by Zhonglian Asset Appraisal Group as of June 30, 2024, was approximately 16.083 billion yuan [12]