Stock price 

2.3 c

52-week range

1.8 - 8.2 c

PE (ttm)

--

Market cap

S$23.9 m

Shares outstanding

1.02 b

Dividend 
yield 
(ttm)

--

1-yr return

-64%

Source: Bloomberg

If investors re-rate a mining company upon its start of meaningful production, then Anchor Resources is a stock to watch.

After almost three years as a listed company on Catalist, and reporting losses every year, Anchor Resources has in the past few months started production of "semi-processed concentrated ore" and dimension stone granite. 

We visited the production sites in the Malaysian state of Terengganu last week, and share here operational insights into, firstly, the Lubuk Mandi gold mine. (We'll have another article on the granite quarries.) 

watchnowWatch this 3-minute video of the gold mine's facilities and operations >
 
 


The article below supplements with more information.

Videos and photos by Ngo Yit Sung, Leong Chan Teik and Anchor Resources

goldmine11.18
1. Open pit mining at Lubuk Mandi mine, located on the extensive Eastern gold belt of Peninsula Malaysia, was carried out by the previous operator prior to Anchor Resources winning a tender for the concession in 2013.

Anchor Resources then carried out drilling activities to determine the gold resources, and constructed processing facilities.

In May 2017, it engaged a Chinese company, Great Aims Resources, to construct a tunnel in order for gold ore to be extracted more economically.

Generally, under an agreement, Great Aims Resources would bear the capital and operating costs -- including facilities to process the hard rock -- in exchange for a share of the revenue.

(Obligations under the agreement and details of the sharing of revenue and expenses were announced in May 2017 and amended in April 2018.)

entrance11.182. A 210-metre tunnel with a vertical depth of 90 metres has recently been completed.

Workers are extracting hard rock for a stockpile which, when sufficiently sizeable, will be processed for gold.



goldtraces11.18goldtraces b

3. Gold traces visible on hard rock!

Excavated hard rock are being stockpiled for processing. The hard rock has gotten us excited as we came across many with traces of gold on their surfaces.

But there's much work ahead to crush hard rock and then chemically treat it in order to retrieve the gold.

semi ore11.18An average of 34 grams of gold in each tonne of concentrate (the black stuff in the picture). 4. Gold in tailings left behind by previous operator: Anchor Resources has been processing tailings into "semi-processed gold concentrated ore" which has a black tarry appearance.

The first shipment was in March 2018 to a customer in China.

In its Aug 2018 update to the market, Anchor Resources said as at the end-July 2018, it had exported 74 tonnes of semi-processed gold concentrated ore.

There was an average of 34 grams of gold in a tonne of concentrate.

(For an idea of the potential profitability, see: )


Share Prices

Counter NameLastChange
AEM Holdings1.070-0.010
Alliance Mineral0.170-
Anchor Resources0.018-
AusGroup0.029-
Avi-Tech Electronics0.290-
Best World Int.1.890-0.040
China Sunsine1.2300.020
CSE Global0.520-
Food Empire0.5550.010
Geo Energy0.1800.003
Golden Energy0.220-0.005
GSS Energy0.1010.001
HMI0.545-0.005
ISDN Holdings0.2300.005
KSH Holdings0.530-0.015
Miyoshi0.0560.004
Moya Asia0.088-
Nordic Group0.3250.005
Oxley Holdings0.295-0.005
REX International0.0790.001
Riverstone1.080-0.030
Roxy-Pacific0.410-
Sing Holdings0.405-
SingMedical0.460-0.010
Sino Grandness0.055-0.001
Straco Corp.0.780-
Sunningdale Tech1.3400.010
Sunpower Group0.525-0.010
The Trendlines0.0860.001
Tiong Seng0.2450.005
Uni-Asia Group1.180-
XMH Holdings0.185-
Yangzijiang Shipbldg1.580-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 2608 guests and no members online