Core Viewpoint - Western Gold plans to acquire 100% equity of Xinjiang Meisheng Mining Co., Ltd. for cash, aiming to enhance its independence and avoid potential competition with its controlling shareholder, Xinjiang Nonferrous Metals Industry Group [1][2][3] Group 1: Acquisition Details - The acquisition will be financed through self-owned funds and loans, with Xinjiang Meisheng becoming a wholly-owned subsidiary of Western Gold post-transaction [3] - The transaction is expected to be classified as a related party transaction due to Xinjiang Nonferrous being the controlling shareholder of Western Gold [3] - The transfer price will be negotiated based on the costs incurred by Xinjiang Nonferrous during its acquisition and cultivation of Xinjiang Meisheng [3] Group 2: Financial Performance - Xinjiang Meisheng reported negative net profits of approximately -35.94 million yuan in 2024 and -14.16 million yuan in Q1 2024 [4] - As of March 2023, Xinjiang Meisheng's net assets were about 90 million yuan [4] Group 3: Project Outlook - Xinjiang Meisheng is expected to commence production in the second half of 2025, with the Karatbaasu gold-copper polymetallic mine project having a proven ore volume of 25.67 million tons and gold resources of 78.7 tons [7] - Upon reaching full production capacity, the project aims for a daily production scale of 4,000 tons, resulting in an annual output of 120,000 tons of ore and approximately 3.3 tons of gold [7][8]