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    Obtaining 50.1% of the stock from Perilya Limited Through Successful Overseas M&A

     At 10:00 February 5 (the Beijing time) (local time: 11:00 am, February 5), Australia Perilya Limited (“PEM”) concluded its shareholder conference, which marked the successful acquisition of PEM by Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. (NONFEMET) with 50.1% of the stock. PEM will sell 198 million shares to NONFEMET through placing. Due to the acquisition of overseas quality mineral resources, NONFEMET has become the first holding company of a company in a developed country in the nonferrous metals industry. This is a significant step in the globalization of NONFEMET. Now, NONFEMET is a transnational company with strong competitiveness in the lead zinic industry. This acquisition turned a new page in the development of overseas resources by Chinese companies and will inspire other Chinese companies in their overseas acquisitions.

    Amid the breakout of global financial crisis, commodity prices have experienced remarkable changes and the global corporate M&A has taken on multi-dimensional development. Currently, quite a number of lead zinic mines are experiencing a hard time due to the global prices of lead zinic. NONFEMET took this opportunity to buy PEM successfully, which provides experience for enterprises seeking development amid the financial crisis.

    Through its wholly-owned subsidiary based in Hong Kong, NONFEMET purchased approximately 198 million negotiable ordinary shares or 50.1% of the total stock capital for 0.23 Australian dollars per share from PEM through placing. The total investment is about 45 million Australian dollars (about RMB200 million).

    NONFEMET handled complicated problems in the acquisition and completed the whole procedure from inquiry and negotiation to survey and evaluation within more than two months. Through this acquisition, NONFEMET obtained lead zinic mine containing over 3 million ton metal as well as top-grade copper and cobalt resources. The smart development strategy geared to the capital and resource markets should be attributed to NONFEMET’s efficient management team, far-sight global view, mature corporate governance, and strong capital operation capability. This strategy helped NONFEMET accumulate experience valuable for its further development.

    As a listed company in Australia, PEM is mainly engaged metal exploration and mining. With 3.2 million ton lead and zinic resources, and multiple exploration rights, PEM can produce over 150,000 ton lead and zinic each year. PEM possesses the following big mines: lead, zinic, and silver mines in Broken Hill of New South Wales, top-grade silicate of zinic oxide bearing ore in Flinders of South Australia, and copper cobalt mines in Queensland.

    As a listed resource company mainly engaged in the lead and zinic industry, NONFEMET is committed to being a leading company in the nonferrous metals industry in China and even a giant in the lead and zinic industry in the world. As a holding company of PEM, NONFEMET is expected to control huge reserves of top-grade lead and zinic, develop its technical competitiveness in lead and zinic exploration, improve its global operation and management, and boost its profitability and sustained development. After the acquisition, NONFEMET can launch and strengthen overseas development, expand its influence in the international mining industry, and strive to be a first-class international company with stronger competitiveness. 

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