Mount Everest Gold Group (HKG:1815) expects to spend 400 million-600 million yuan on the Lhoka Mine and 950 million yuan to 1.15 billion yuan on the Shigatse Mine over the next two years, according to a Dec. 5 Hong Kong bourse filing.

Shares of the jewelry retailer were down over 2% in Monday morning trade.

Its share of the investment is estimated at 200 million-300 million yuan for Lhoka and 300 million-400 million yuan for Shigatse, and will be funded through internal resources, existing facilities, proceeds from its recent share subscription, and potential future equity or debt financing.

China Silver (HKG:0815), which jointly owns the Shigatse Mine, is expected to contribute 200 million-250 million yuan, financed through internal resources, existing facilities, and proceeds from its July placing, the filing said.

Planned spending in 2026 will cover mapping, analysis, trenching, and early drilling, shifting in 2027 to pit exploration, environmental assessments, and feasibility studies that will determine subsequent development and construction plans.