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Will Shiba Inu’s ‘The Metaverse’ sale prop prices up and generate returns

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionShiba Inu has had a frolicking month after two separate 30%+ rises. However, regardless of the rallies, SHIB has had a pretty lukewarm month so far. But this might change soon thanks to the ongoing metaverse bidding event for the land in the SHIB: The Metaverse. And sold! As announced by Shiba Inu, the first […]

Shiba Inu can reject this bearish disposition only if…

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Grayscale slams the gavel; AVAX & DOT join the family, SNX & SUSHI cast out

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RTO of LTKM Berhad via the Acquisition of EMS Business for RM336 Million

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KLANG, Malaysia, Apr 8, 2022 - (ACN Newswire) - LTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.

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Chai Voon Sun, co-founder and Managing Director of Local Assembly [L] and Executive Chairman of LTKM, Datuk Tan Kok

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Wee Thian Song - Co-founder, Executive Director and Engineering Director of Local Assembly; Gurmakh Singh - Co-founder, Executive Director and General Manager of Local Assembly; Datuk Seri Chiau Beng Teik - Executive Chairman of Chin Hin Group Berhad; Chai Voon Sun - Co-founder and Managing Director of Local Assembly; Datuk Tan Kok - Executive Chairman of LTKM; Tan Kah Poh, Kenny - Independent Director of LTKM; Rahman Ali Bin Abdul Wahab - Director of Proven Venture Sdn. Bhd. [L-R]

Executive Chairman of LTKM, Datuk Tan Kok said, "At its core, the proposals seek to reward our shareholders from the proceeds of the disposal of the Company's existing poultry business while at the same time, allow them to continue participating in the new EMS business following the proposals."

"The proposed disposal comes amid the challenging operating landscape for the poultry industry brought on by overcapacity, low average selling price of eggs, high raw material prices, difficulty in controlling disease outbreaks in the farms and acute labour shortage. In relation to these challenges, we have also incurred losses in the recent financial years ended 31 March 2020 to 2021 and for the nine-month period ended 31 December 2021. This has affected our ability to pay dividends too."

"Concurrent with the proposed disposals, we believe the proposed acquisition of the EMS business is an opportunity to create value for our shareholders through a business that is viable and profitable."

Briefly, the proposals comprise the following inter-conditional steps:

1. Proposed disposal of LTKM's existing business to Ladang Ternakan Kelang Sdn Bhd (LTKSB) for a total cash disposal consideration of RM158.83 million. LTKSB, which holds 71.6% of the equity interest in LTKM, is also the holding company of LTKM;

2. Proposed special dividend and capital repayment of RM1.1098 per LTKM share totalling RM158.83 million on an entitlement date to be determined;

3. Proposed consolidation of two existing LTKM shares into one LTKM share following the proposed special dividend and capital repayment;

4. Proposed acquisition by LTKM, of 100.0% equity interest in Local Assembly Sdn Bhd (Local Assembly) from Chai Voon Sun, Gurmakh Singh a/l Ajmer Singh, Wee Thian Song, Divine Inventions Sdn Bhd and Proven Venture Sdn Bhd (Vendors) for RM336.00 million to be satisfied through cash of RM100.00 million and the issuance of 393,333,333 new LTKM shares at an issue price of RM0.60 each;

5. Proposed restricted issue of 230.00 million new LTKM shares at an indicative issue price of RM0.60 each, representing 33.1% of the enlarged share capital of LTKM after the proposals to investors to be identified;

6. Proposed exemption to the vendors and persons acting in concert from the obligation to undertake a mandatory take-over offer to acquire the remaining LTKM shares not already owned by them upon completion of the proposed acquisition; and

7. Proposed change of name to "LA Technology Berhad" from "LTKM Berhad".

The proposed acquisition will result in a significant change in LTKM's business direction from a producer of chicken eggs to becoming an EMS provider. Local Assembly, an EMS provider, will become a wholly-owned subsidiary of LTKM while the vendors of Local Assembly will become LTKM's controlling shareholders with a 56.6% equity interest in the Company following the proposed acquisition and proposed restricted issue. By virtue of his shareholding in Divine Inventions, Datuk Seri Chiau Beng Teik, the Executive Chairman of Chin Hin Group Berhad, will become a major shareholder of LTKM.

Under the proposed acquisition, the vendors have provided a profit guarantee for Local Assembly of a minimum profit after tax (PAT) of RM28.00 million for the financial year ending 31 December 2022 or not less than an aggregate of RM50.00 million PAT for both financial years ending 31 December 2022 and 2023. Based on the guaranteed PAT of RM28.00 million for the financial year ending 31 December 2022, the purchase consideration represents a price to earnings multiple of 12 times.

For Chai Voon Sun, co-founder and Managing Director of Local Assembly, the listing of Local Assembly via LTKM means a realisation of 2 decades of hardwork for him and his co-founders and a step forward in the company's journey of growth and expansion. "This transaction is a major milestone for Local Assembly. We look forward to the next phase of our corporate journey as a listed entity, which will further accelerate our growth as an EMS player, allow us to expand our customer base and product offerings and pursue more opportunities" he adds.

Local Assembly, which started operations in 2000, is a manufacturer of electronic, electrical and plastic injection moulded components, and sub-contract assembler of electrical appliances and equipment. Its principal markets are Malaysia and Singapore. For the financial year ended 31 December 2022, Local Assembly achieved PAT of RM20.06 million on the back of a revenue of RM116.35 million.

The application for the proposals is expected to be submitted to the relevant authorities by the second quarter of 2022. Subject to approvals from relevant parties including Securities Commission, Bursa Securities Malaysia Berhad as well as shareholders of LTKM, the proposals are expected to be completed in the first half of 2023.

M & A Securities Sdn Bhd is Adviser to LTKM for the proposals.

LTKM Berhad: https://www.ltkm.com.my/
LTKM Berhad: 7085 / [BURSA: LTKM] [RIC: LTKM:KL] [BBG: LTKM:MK]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comLTKM Berhad (LTKM), a leading chicken egg producer, today announced a composite proposal, chiefly to divest the Company's existing business and venture into the business of providing of electronic manufacturing services (EMS) while at the same time, rectify its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.

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Manicouagan Critical Metals Drilling Update: High-Grade Rhodium

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MONTREAL, QUEBEC, Apr 7, 2022 - (ACN Newswire) - St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.

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Table 1 - Assay results for a 2-meter section of 2021-Hole 18

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Table 2 - Representative samples collected from the 1,070kg bulk sample

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Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby

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Table 3 - Results for the eight samples submitted for secondary assay

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The drill cores sampled return results up to 0.84 g/t of rhodium, 1.3 g/t ruthenium, 0.16 g/t osmium and 0.3 g/t iridium over 0.5 meters.

Eight separate samples were selected for re-assay for all Platinum Group Elements (PGE) from hole 21-18. The additional average results over the 2-meter zone previously released on March 25, 2022 (from 47.5 meters to 49.5 meters) include 0.55 g/t rhodium, 1.087 g/t ruthenium, 0.214 g/t iridium and 0.11 g/t osmium. The Company believes these are significant credits to the reported 2-meter section intersected in hole 2021-18. These results coincide with the random samples collected from the bulk sampling and attests to the vertical extent of nickel-copper-cobalt and PGE's present in this system. Therefore, the Company intends to accelerate its metallurgical sampling program to determine the viability of economically separating and recovering the various suites of minerals identified in the Manicouagan massive sulfide discovery.

The samples were shipped from Val D'or ALS Laboratories to Bureau Veritas for a complete suite of assays. The eight samples were selected from the better values reported previously from ALS and reported in the Company's last press release on March 24, 2022 (Discovery of High-Grade Nickel & Palladium Corridor Confirmed). Therefore, the samples are not sequential throughout the previous reference to 6.5 meters but are sequential through the 2-meter section previously announced. The Best 2-meter results for platinum and palladium are reported in a side-by-side comparison in Table 1, along with additional results for iridium, osmium, rhodium and ruthenium.

Table 1 - Assay results for a 2-meter section of 2021-Hole 18
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-1.jpg

Comparatively, assay results for platinum and palladium were similar in nature. Several of the higher-grade samples for platinum and palladium showed decreases from the previous 2-meter results reported in the last press release. This reduced the platinum values by 8% and the palladium values by 18%, as shown in Table 1 above. These variations may be attributable to either or both of the different processes used to establish the assay values and/or the inconsistencies of mineral content in the sample. In fact, the highest iron content (massive sulfides +25% to >50%) is present within this 2-meter zone and may have contributed to any processing issues present.

Table 2 is a reminder of the representative samples collected from the 1,070 kg bulk sample. These values confirm the association and relative consistencies of PGE minerals at surface and at depth.

Table 2 - Representative samples collected from the 1,070kg bulk sample
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-2.jpg

Hole 21-18 was drilled to the southeast of the historical Bob Showing, where a 1,070 kg bulk sample was collected this year (See St-Georges Press Release from February 10, 2022: https://bit.ly/3KdbXNI

The map below (Map 1.) shows the location of the hole 21-18 in relation to the bulk sample and two historical holes, 07-17 and 08-02. Two minor faults are reported in the vicinity of these holes.

Map 1 - Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby.
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-3.jpg

Table 3 provides the entire results for the eight samples submitted for secondary assay of the suite of PGEs.

Table 3 - Results for the eight samples submitted for secondary assay
https://www.acnnewswire.com/topimg/Low_StGeorgesEcoMining202204-4.jpg

The Company has a large quantity of samples in the process of being assayed by its independent labs. St-Georges' contracted geologists are still hard at work processing the last batch of core that came out of the Manicouagan Project's camp earlier this month. Assays results will be disclosed as they become available.

Because of the high-grade assays returned and the identification of a mineralized trend or corridor, the Company expanded its claim position in the area to maintain its competitive advantage. This year, the Company expects to conduct a cursory exploration program on the new land acquisition with some geophysics, geologic mapping, and geochemical sampling of surface outcrops.

"We believe we are refining our knowledge of structure and mineralization at our Manicouagan project. Previously overlooked and, in some cases, unknown mineralization and trace element geochemistry provide additional targets that both extend the known areas and provide additional targets that remain untested. This particularly involves the distribution of PGEs. Hole 21-18 provided a 2-meter-thick zone that, when you add all of the metals together, gives us 7% nickel equivalent. Historic holes intersected narrow zones (0.22m) that had a combined value of over 12.5% nickel equivalent at today's quoted prices.

"Palladium, rhodium, ruthenium, and platinum are significantly enriched in areas where higher-grade nickel-cobalt-copper sulfides exist. Historically, these minerals were overlooked or, at best, cursorily sampled for all PGEs. Even so, the results from historic drilling include values to 1.73 g/t rhodium and 2.7 g/t ruthenium. More importantly, for our future exploration programs, we find that the various PGEs do not go hand-in-hand but can exist separately and more widely spread from the highest concentrations of base metals. This means higher grades of rhodium and other PGEs may exist within the 16 historic holes that encountered 0.7-to-7-meter widths of high-grade nickel-copper-cobalt within the Bob and Bob East zones. This is also true for elsewhere on this large property position.

"We hope to benefit from this knowledge, especially in the case of the platinum-palladium-rhodium (PGE) mineralization which appears to have been under-explored in this region. St-Georges hopes to take this knowledge to the next level by also utilizing the new pathfinder elements developed during the 2021 drill program," commented Herb Duerr, CEO & President of St Georges Eco-Mining.

About Rhodium Metal

Rhodium is one of the rarest and most valuable precious metals in the world, currently valued at US$19,000 per ounce or $610 per gram. It is only found in platinum or nickel ores that tend to run with the other members of the platinum group metals. Currently, South Africa produces roughly 80% of the global supply, while Russia and North America account for the bulk of the remaining 20%.

The global market for rhodium is around 1.2 million ounces and with supply running a multi-year deficit, the value of the metal has grown steadily since 2017. The reason for this being that rhodium is only produced as a co- or by-product with average grades of up to .5 g/t. In fact, many producers of rhodium today are operating at much lower grades, making St-Georges' discovery very significant in terms of grades being reported.

ON BEHALF OF THE BOARD OF DIRECTORS
"Herb Duerr"
HERB DUERR
President & CEO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

CONTACT:
Regulatory & Medias Only
Frank Dumas, COO.
+1.514.295.9878
public@stgeorgesecomining.com

SOURCE: St-Georges Eco-Mining Corp.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSt-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to release the additional partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.

Dynasty Fine Wines 2021 Revenue Rises Notably by 28% to HKD306 Million Due to Successful “5+4+N” Product Strategy

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HONG KONG, Mar 29, 2022 - (ACN Newswire) - Dynasty Fine Wines Group Limited ("Dynasty" or "the Group") (Stock Code: 828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2021. Revenue in 2021 increased by 28% year-on-year to HK$306 million. Gross profit rose by 103% year-on-year to HK$121.9 million. Gross profit margin increased significantly from 25% in 2020 to 40% in 2021. Profit attributable to owners of the Company was HK$32.8 million in 2021, a decrease when compared with HK$116.4 million in 2020. The decline was due to a net gain (after tax) of HK$183.7 million from a disposal, which was a one-off transaction, recorded in 2020. If the net gain of the one-off disposal in 2020 was excluded, profit attributable to owners of the Company would have increased significantly in 2021 versus the preceding year.

In 2021, the revenue of wine products grew, mainly due to a marked increase in sales volume of products, especially middle to high-end wine products, after optimization of the Group's product mix, as well as the increase in market price of certain upgraded and custom-made products during the year. In the second half of 2021, the occurrences of flooding and heavy rain and sporadic COVID-19 cases in certain regions of China adversely affected consumer sentiment. Consequently, the Group's revenue growth for the full 2021 financial year slowed relative to the first half year.

The total number of bottles of wine sold in 2021 was approximately 11.9 million, an increase of 20% as compared with 9.9 million bottles in 2020. Red wines continued to be the Group's primary revenue contributor, accounting for approximately 51% of the Group's revenue for the year (2020: 65%). White wine sales became the growth driver of the Group, which surged by approximately 60% year-on-year and accounted for 40% of the Group' revenue. In 2021, the gross margin of red wine products and white wine products were 37% and 47%, respectively (2020: 24% and 31%, respectively).

The Group produced a wide range of more than 100 wine products under the "Dynasty" brand. This has enabled it to meet the demands and preferences of different consumer groups, mainly in the mass segment of the Chinese wine market. During the year, the Group launched a new premium product, Dynasty Chinese Zodiac Commemorative Dry Red Wine, for the Xin Chou Year of the Ox, integrating high quality with the Chinese zodiac culture. The Group also unveiled two new product series, namely "Sweet Heart" and "Pleasant Color", for the entry-level product segment. The product series are targeted at young consumers and will open a new chapter as part of the Group's product rejuvenation strategy.

The Group also sold foreign branded wines during the year. Imported mainly from France, Italy, Australia, Chile and the United States, the wines enter the Chinese market through the Group's existing distribution network. Having streamlined its portfolio, the Group currently sells about 50 imported grape wine products under approximately 10 brands.

During the year, the Group strengthened cooperation with distributors to operate online stores on such e-commerce platforms as JD.com, Tmall and Pinduoduo. Moreover, innovations were achieved across its brands and product categories, as well as business systems, procedures and models via new retail platforms including Weibo, RED (Xiaohongshu app), Kuai (Kuaishou app) and TikTok (Douyin app). The Group also established an e-commerce team and actively cultivated e-commerce live broadcasting talent to further expand its sales channels and build up a new customer base.

In October 2021, Dynasty held a grand opening ceremony in the new premises of its National-level Technology Center. The work station in the Center has commenced research for the first time on the selection of distinctive muscat yeast in order to create more mellow and enjoyable wines. Also, Dynasty Technology Center established a winemaking and wine tasting studio during the year.

In 2021, Dynasty continued to implement its market demand-oriented "5+4+N" product strategy, and completed the enhancement of the Group's organization structure. In the Group's strategy, "5" represents the five key series of products, comprising air dry series, seven-year reserve series, merlot series, classic series and best-selling series, and represents the goal of having full coverage of all mainstream price segments; "4" refers to the four advantageous categories, i.e. dry red wines, dry white wines, brandy and sparkling wines, and the aim of increasing the Group's vertical market share; and "N" stands for the development of "N" kinds of customized products to meet the diversified needs of Chinese consumers. In 2021, the Group achieved remarkable results from the adjustment of its products, sales channels and marketing campaigns.

With respect to its large-scale marketing campaign, the Group forged ahead with various endeavors, including showcasing products in 20,000 shops, hosting 1,000 wine tasting events and organizing 100 plant visits, so as to continue developing its point-of-sale network.

In the coming three years, the Group will strive to deploy 100,000 points of sale, add 1,000 distributors, and vigorously develop new channels via retail platforms. This will enable the Group to seize opportunities from the growing consumption market driven by young adults, and achieve the annual sales target of over RMB1 billion.

Mr. Wan Shoupeng, Chairman of Dynasty, said, "The Group is pleased that the "5+4+N" strategy has been effective in boosting product sales in 2021, which in turn has facilitated overall revenue growth. In the future, the Group will increase its investment in brand development in order to fully vitalize its brands as well as drive development of its major products. The latter will involve steadily enhancing quality and controlling prices to boost sales volume, with the aim of bringing Dynasty's superior wines to more consumers in China. Furthermore, in line with the industry development trend, Dynasty will strengthen its presence in the mass-market and mid-range product segments as well as target young consumers. In spite of the possible impact brought by sporadic COVID-19 cases in China, the Group is confident that its annual revenue will maintain a steady growth trend in 2022."


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comDynasty Fine Wines Group Limited ("Dynasty" or "the Group") (Stock Code: 828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2021. Revenue in 2021 increased by 28% year-on-year to HK$306 million.

Jinchuan International’s 2021 Profit Attributable to Shareholders Surges 303% to US$120.5 Million

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HONG KONG, Mar 29, 2022 - (ACN Newswire) - Jinchuan Group International Resources Co. Ltd., (the "Company" or "Jinchuan International"; together with its subsidiaries, the "Group"; stock code: 2362), Jinchuan Group's flagship platform for overseas mineral resources development, has announced its audited annual results for the year ended 31 December 2021 (the "Year").

Highlights of 2021 Annual Results
-- Revenue amounted to US$831.9 million, up by 25.2% year-on-year. Revenue from mining segment was US$620.6 million and revenue from the trading of mineral and metal products was US$211.3 million
-- Gross profit increased considerably by 188% to US$251.7 million
-- Profit attributable to shareholders soared by 303% to US$120.5 million
-- During the Year, the Group produced 61,260 tonnes of copper and 3,379 tonnes of cobalt and sold 57,001 tonnes of copper and 2,617 tonnes of cobalt
-- Cost of sales of the mining business declined 16%, attributable to the Group's stringent control of costs

During the Year, the Group recorded revenue of US$831.9 million, a year-on-year increase of 25.2%, which was attributable to the rise in the benchmark copper and cobalt prices. Total revenue from mining operations was US$620.6 million, a year-on-year increase of 24.7%. Revenue from the trading of mineral and metal products segment amounted to US$211.3 million, a year-on-year increase of 26.6%. With costs kept under control, the Group's gross profit rose considerably by 188% to US$251.7 million. Moreover, as copper and cobalt prices surged in 2021, the Group's gross profit margin grew significantly to 30% for the Year from 13% in 2020.

Profit attributable to shareholders of the Company soared by 303% year-on-year to US$120.5 million. Earnings before interest (net finance costs), income tax, depreciation and amortization and impairment loss ("EBITDA") amounted to US$311.5 million, up by approximately 121.8%. The Group maintained strict control of costs during the Year. As a result, cost of sales of the mining operations decreased by 16% to US$314.9 million.

In 2021, the Group produced 61,260 tonnes of copper and 3,379 tonnes of cobalt, and sold 57,001 tonnes of copper and 2,617 tonnes of cobalt. Sales of copper and cobalt amounted to US$514.0 million and US$106.6 million respectively. During the Year, the Group's copper production volume dropped, primarily as a result of lower ore feed grade from Ruashi Mine and Kinsenda Mine and lower copper recovery rate. Similarly, the cobalt production volume declined, mainly due to the lower grade of cobalt ore mined and lower cobalt recoveries. Nevertheless, driven by higher copper and cobalt prices, the Group recorded a significant increase in revenue, which was able to offset the impact of lower sales volume.

Continuous expansion of core businesses, progress achieved by all projects
As a multinational mine developer and operator, the Group will pay close attention to local government policies and the economic environment, and continue to monitor all factors that may cause market fluctuation, so as to ensure the Group is well prepared to respond timely to any market changes.

The Group's short-term focus will be on the construction of the Musonoi copper-cobalt mine in Kolwezi, the Democratic Republic of the Congo. During the Year, construction of the mine was progressing as planned. The Group has also signed a facility agreement with China Development Bank in relation to the construction of the Musonoi project. At the same time, the Group will continue its exploration work in the sulphide zone below the oxide zone in Ruashi Mine, deeper region of the Musonoi Project, and conduct infill drilling at Kinsenda Mine. In addition, the Group successfully leased out the mining assets of Chibuluma under a finance lease. The Group recorded a royalty income of approximately US$2.4 million under the finance lease agreement.

Actively seized market opportunities amid rising copper and cobalt prices
Copper price is susceptible to swings in global policies and economic uncertainty. LME copper price reached a historical high of US$10,720 per tonne in May 2021, and closed at US$9,692 per tonne at the end of 2021, representing a gain of 25.2% compared to 31 December 2020 and a gain of 109.9% compared to the lowest point in 2020. With copper price surging, the Group commenced the construction of Ruashi Mine's magnetic floatation plant aiming to treat low-grade oxide and sulphide materials. This allows the Group to better utilise Ruashi Mine's low grade stockpile while potentially extending Ruashi's life of mine. The new plant was successfully launched in December 2021.

With the availability of COVID-19 vaccines, social and economic activities have recovered. Copper, as a critical commodity used in construction and infrastructure, will benefit from the economic recovery. Moreover, countries around the world have initiated the strategic target of carbon neutral. Copper will be used more frequently in areas including solar, wind, power storage, new energy and distribution with the enhence of carbon neutral era, the demand for copper will further increase. Given its strong fundamentals, copper price is expected to stay strong after COVID-19 is contained.

With regard to the cobalt market, cobalt price gradually rebounded during the Year, and continues to rise in 2022. The price of cobalt reached US$38.7 per pound in mid-March 2022. Demand for cobalt is subject to the manufacturing of alloy and industrial chemical and for the manufacturing of batteries. As major auto makers were launching more electric vehicle ("EV") models in 2021, Ford estimates that 40% of motor vehicles sold will be EVs by 2030 and Bloomberg estimates that half of motor vehicles sold will be EVs by 2040. Analyst forecasts cobalt demand to expand at a compound annual growth rate of 7% to 2030.

The Group said, "We will seize the favorable opportunities to develop new energy and new materials and keep expanding the major business while considering to extend the industrial chain appropriately, and expand the Group's product scope. Meanwhile, we plan to further introduce strategic investors and optimize the shareholders structure, strengthen management, reduce costs and increase efficiency, and enhance the economic scale of existing projects. Furthermore, we will actively integrate the Group's overseas resources and expand our asset scale. We will also continue to develop new businesses, and in particular, look for opportunities in southern Africa to generate synergies, given its close proximity to the Group's existing mines. In the future, we will pursue continuous development and innovation, with the aim of becoming a world-class mineral corporation and creating greater value for our shareholders."

About Jinchuan Group International Resources Co. Ltd (Stock Code: 2362. HK)
Jinchuan International is a Hong Kong listed company under Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group's multinational operational strategy and elevating Jinchuan Group's global investing, financing and operating capabilities. By virtue of Hong Kong's advantages as an international financial and trade center, and through the Company's focus on an internationalized operating strategy, the Company has established itself as the flagship platform for Jinchuan Group to develop its overseas non-ferrous metal mining business. The Company owns large-scale mines in Africa with high-quality copper and cobalt metal resources. It engages in the production and trading of basic metal resources. The Company's main mine assets include the Ruashi and Musonoi copper-cobalt mines, high-grade Kinsenda copper mine, Chibuluma South Mine, and Lubembe project.
Website: http://www.jinchuan-intl.com/tc/

About Jinchuan Group Co., Ltd* ("Jinchuan Group")
Jinchuan Group Co., Ltd*, founded in 1958, is a state-owned enterprise with its majority interest held by the People's Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the third largest nickel producer and fourth largest cobalt producer in the world as well as the fourth largest copper producer in China. Jinchuan Group ranks no. 336 in "Fortune" Global 500 in 2021.
Website: http://www.jnmc.com/

* for identification purposes only


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comJinchuan Group International Resources Co. Ltd., (the "Company" or "Jinchuan International"; together with its subsidiaries, the "Group"; stock code: 2362), Jinchuan Group's flagship platform for overseas mineral resources development, has announced its audited annual results for the year ended 31 December 2021 (the "Year").
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