Cordoba Minerals, listed in Canada, is an exploration company under Ivanhoe Capital Group, focusing on the exploration and acquisition of copper and gold assets. JCHX acquired 19.9% of shares of Cordoba Minerals based on the Share Subscription Agreement with Ivanhoe on November 16, 2019, with transaction closed on January 17, 2020. A conditional Framework Agreement was separately signed on December 8, 2022, in which JCHX proposed to purchase 50% of interest in CMH, with transaction closed on May 8, 2023 upon all conditions met.On December 8, 2022, JCHX acquired 50% equity in CMH, a wholly owned subsidiary of Cordoba Minerals in Colombia. To expedite the development of Alacran project, JCHX intends to further purchase 5% equity in CMH, thus becoming its controlling shareholder. Upon completion of the transaction, JCHX shall take the lead in subsequent development and construction of the project.

As per the PFS results of Alacran deposit, the grade of copper is 0.41%, gold 0.26 g/t, and silver 2.30 g/t. In November 2021, Cordoba Minerals submitted PTO for Alacran deposit to Administration of National Mines of Colombia. The mine could enter into construction stage after the completion of FS and the approval of EIA, which are both underway.