MME cancelled the operating rights of SCL and entered into the Concession Operation
Agreement with South East Asia Metals Company Limited (“SEAMET”), an indirect wholly owned
subsidiary of the Company (through 99.99% holding by Padaeng Properties Company Limited),
resulting in the operating rights of SEAMET in Mawkhee Mine (“the Operating Rights in
Concession”). The entering into such agreement of SEAMET was with the assistance of MALI, who
had vast experience in mining operation within the area of Mawkhee Mine for a long period of time.