mining

CNMC Goldmine announces near-trebling of 1Q earnings to $1.9 mil on higher gold output
SINGAPORE (May 14): CNMC Goldmine Holdings posted earnings of US$1.4 million ($1.9 million) for 1Q19, the group’s highest quarterly profit attributable to shareholders since 3Q16, and nearly triple of its earnings of US$0.5 million a year ago.   The bottomline growth was largely attributed to a rise in gold output as the group’s flagship Sokor project in Kelantan, Malaysia, generated ...
Catalist debutant Fortress Minerals to ride on China's rising demand for steel mills, says UOB
SINGAPORE (Mar 25): UOB KayHian says upcoming market entrant Fortress Minerals (FMIL SP) is well positioned to ride on increasing demand from Chinese steel mills. Fortress Minerals is a 37%-owned associate of Malaysia-listed Selangor Dredging Bhd, an investment firm with property development businesses in Malaysia and Singapore. The company produces high-grade iron ore concentrate mined ...
AsiaPhos sinks into the red in 1Q on lower margins
SINGAPORE (Apr 26): AsiaPhos has reversed into the red in 1Q18 with a loss of $0.7 million for 1Q18 compared with earnings of $0.1 million a year ago on lower margins. As AsiaPhos is currently engaged in a legal dispute with China’s Sichuan provincial government regarding its mining operations there, the results of the group’s upstream segment have been reclassified under discontinued ...
Ready-made crypto mining kits lure more than geeks in Singapore
SINGAPORE (Jan 26): The volatile and mysterious world of cryptocurrencies is now a shopping mall away -- at least in Singapore. Ready-made computing machines used to facilitate transactions in Bitcoin and other digital currencies have appeared on the city-state’s shop shelves even as its central bank sounds a note of caution. The availability of store-bought ‘mining rigs,’ each ...
Solid earnings, but portfolio slips as sentiment weakens
(Nov 20): This past week of the earnings season has brought positive news for some of the property and tech companies in our Singapore Market Portfolio. One of our holdings in the mining space continues to face headwinds, but is building new capabilities. On the positive side, components manufacturer Memtech International saw a 26.5% y-o-y increase in earnings for 3QFY2017 ended Sept 30 to ...
Dragon Group in reverse takeover of African mining company for $500 mil in cash and new shares
SINGAPORE (Oct 19): Mainboard-listed Dragon Group International is diversifying from electronics into mining although investor interest after the announcement remained muted. It is acquiring a 100% stake in Coeur Gold Armenia (CGA), a precious metal mining company based in the Seychelles, in exchange for $500 million in cash and new shares. Dragon Group will pay a $200,000 cash deposit ...
Dynamics of ISR’s rare earth deal have changed
(Aug 14): The price at which ISR Capital will acquire a major stake in a rare earth mining concession in Madagascar has been slashed by more than 88% to $4.52 million, which is less than what the vendor paid for it in late 2015. And, a third independent valuation of the mining concession, commissioned following queries from the Singapore Exchange, is likely to be “much lower” than the last ...
These companies are riding on the cryptocurrency rush
(June 9): Mining references generally evoke images of picks and shovels. For advocates of bitcoin and the other cryptocurrencies surging in value, the gold may be in the shares of the companies that produce the computer processors and chips used to create the digital currencies in the process that’s become known as mining. Digital coins can only be created by using computers to solve ...
AusGroup swings back to profitability with $3.4 mil of 3Q earnings on lower costs
SINGAPORE (May 12): AusGroup, the integrated solutions provider to the energy, industrial and mining sectors across Australia and Southeast Asia, posted earnings of A$3.3 million ($3.4 million) for the third quarter ended March 31 – reversing from its loss of A$24.1 million in the same quarter a year ago on lower costs. The stronger bottomline comes in spite of group revenue having fallen ...
Portfolio returns at 4.7% so far; CNMC Goldmine latest addition
SINGAPORE (Feb 24): The unveiling of Budget 2017 on Feb 20 brought little cheer to Singapore investors. The Straits Times Index declined 10.96 points on Feb 20 and another 2.5 points on Feb 21, closing at 3,094.19 points. Still, the STI is up 0.8% over the oneweek period to Feb 21. Our Singapore Market Portfolio too has delivered a 0.8% return. Among the gainers was CapitaLand. Shares in the ...