SDR(SZ:000603)2025-12-18 11:12Group 1: Investment and Acquisition Strategy - The company has acquired a 60% stake in Jinshi Mining, with plans to potentially purchase an additional 20% stake in the future through cash or share issuance [4] - The acquisition aligns with the company's strategic planning to enhance its quality mineral resource reserves and market competitiveness [3] - The company prioritizes cost-effectiveness and risk resistance in project selection, aiming for collaborative development rather than high-premium acquisitions [3] Group 2: Mining Operations and Production Plans - Jinshi Mining's copper-molybdenum mine is expected to have a significant production capacity, with specific output data to be confirmed post-production [2] - The company is focusing on the 460 Gaodi copper-molybdenum mine, with plans to explore and develop additional gold deposits in the future [6][7] - The East Sheng Mining's Bayan Ula silver polymetallic mine is projected to produce 250,000 tons per year, with silver grades averaging 284.90 grams per ton [11] Group 3: Financial Management and Cost Control - The company has stable cash flow and plans to finance mining construction through self-funding and potential loans from financial institutions [5] - Management expenses have increased due to ongoing mining projects and reduced revenue from non-ferrous metal trading, but costs are expected to decrease as new mines come online [13] Group 4: Future Outlook and Market Considerations - The company is exploring overseas acquisitions, considering various factors such as resource availability, pricing, and geopolitical risks [10] - The company aims to stabilize its operations and expand its scale before pursuing international opportunities [10] - Future silver production is expected to increase as new mining projects are completed and operational [11]