From June 12 to June 14, at the invitation of MONGOLD, a gold mining company, an industry delegation consisting of Longcharm Resources (a subsidiary of Longcharm Group), together with China Goldstone (HK.1380), Hong Kong Gold Industry Group (HK.2623), and Khentii Mountain Energy Co., Ltd., conducted a field visit to Naran Mandal, MONGOLD's flagship gold mine in Bayanhongor Province, Mongolia. Members of the delegation included: Mr. Zhao Mengda, Chief Executive Officer of Longcharm Group and President of the of the China Culture Promotion Association Industrial Investment Association; Mr. Chen Tianxing, CEO of China Goldstone; and Mr. Wang Dong, Independent Director of Hong Kong Gold Industry Group and Chairman of Khentii Mountain Energy Co., Ltd.
During the visit, the delegation held formal talks with Mr. Erdene Enkhbat, Governor of Bayanhongor Province, engaging in in-depth discussions on responsible mining practices, local employment promotion, and the coordinated development of the Sino-Mongolian gold industry.
Focusing on Global Gold Resource Allocation, Longcharm Resources Accelerates Overseas Quality Mining Layout
As a resource industry platform wholly owned by Longcharm Group, Longcharm Resources has long focused on full-industry-chain investment and capital operation in gold and other precious metals, covering exploration, extraction, smelting, refining, processing, sales, and resource M&A. The company has served multiple Hong Kong-listed gold companies as a strategic advisor and capital partner, assisting in asset screening, project due diligence, M&A integration, and capital market operations.
Seizing the opportunity of strategic global gold resource allocation, Longcharm Resources plans to establish an overseas gold M&A fund to systematically integrate quality gold resources in Mongolia, Chile, Indonesia, Australia, the Philippines, Central Asia, and other regions. Through controlling acquisitions, resource expansion, production optimization, asset injection into listed companies, and diversified exit routes, the company aims to efficiently link resources and capital. The in-depth inspection of the Naran Mandal project in Mongolia represents a concrete implementation of this global strategy at a key node in Central Asia.
Field Inspection of Naran Mandal: Balancing Producing Cash Flow, Resource Upside, and Community Value
Naran Mandal is MONGOLD's core producing asset in Mongolia, located in Bayanhongor Province, approximately 50 km from the provincial capital. It is a typical orogenic gold deposit with JORC-compliant gold resources. The mine has built a processing system incorporating crushing, screening, grinding, gravity concentration, ore sorting, and CIL-Elution processes, supported by underground mining, tailings facilities, and administrative infrastructure. It is currently in the commercial production stage.
Since taking over Naran Mandal in 2014, MONGOLD has invested over US$100 million in the project. It currently employs more than 700 workers and contractors, a significant proportion of whom are local hires from Bayanhongor, substantially boosting regional employment, skills training, and local supply chain development. MONGOLD expects to mine approximately 160,000 tonnes of ore and sell about 15,000 ounces of gold in 2026. The company is also extending the mine life through the start of open-pit mining, resource drilling, and mine plan updates.
The delegation inspected the mine site, processing plant, underground mining operations, and supporting infrastructure, and held in-depth exchanges with MONGOLD's management on project operations, expansion plans, environmental compliance, and community responsibilities.
Meeting with the Governor: Building Responsible Mining and Long-Term Sino-Mongolian Cooperation
During the meeting between the delegation and Mr. Erdene Enkhbat , both sides focused on local mining policies, infrastructure conditions, labor resources, and community development needs. Mr. Erdene Enkhbat acknowledged MONGOLD's efforts in local employment, tax contributions, medical and educational support, and ecological restoration, and welcomed industrial capital, including Longcharm Resources, to participate in the sustainable development of regional gold resources on the basis of respecting Mongolian laws, regulations, and community interests.
During the meeting, Mr. Zhao Mengda stated: “The Naran Mandal project combines producing cash flow, resource upside potential, and local economic value, making it an important window to observe Mongolia’s gold mining investment environment. Longcharm Resources, as a precious metals resource investment platform under Longcharm Group, is committed to efficiently linking global capital with quality mining projects. The Group strongly identifies with the concept of responsible mining and is willing to explore pragmatic cooperation with Mongolian local governments, communities, and MONGOLD's team in gold mining investment, project operations, and ESG practices.”
Longcharm Resources: Building a Precious Metals Full-Industry-Chain Investment Platform with a Global Vision
As the lead of this inspection, Longcharm Resources, leveraging the industrial investment ecosystem of Longcharm Group, has developed five core capabilities in the precious metals field:
Full-industry-chain investment capability – covering exploration, extraction, smelting, refining, processing, sales, and resource M&A.
Overseas gold mine M&A and integration capability – systematically screening and integrating quality projects in Mongolia, Chile, Indonesia, Australia, the Philippines, Central Asia, and beyond.
Mining due diligence and valuation capability – conducting resource verification and risk assessment in cooperation with international geologists and technical experts.
Capital market operation capability for listed companies – providing asset injection, M&A restructuring, and capital exit solutions for Hong Kong-listed gold companies.
Gold M&A fund management capability – launching special-purpose funds to achieve resource-capital synergy through controlling acquisitions, phased stake increases, and diversified exits.
This visit to Mongolia marks a substantive step forward in Longcharm Resources’ strategic layout in the Central Asia gold resource belt. In the future, Longcharm Resources will continue to focus on high-quality gold resources, responsible mining, and regional industrial coordination to facilitate more gold mining investment and cooperation projects in Mongolia, China, and globally.
