It was our first visit to a gold mine (and we laid our hands on rocks with traces of gold!), after which we shared insights in an article (See: )

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



1-yr return


Source: Bloomberg

The next day, we visited another key asset of Singapore-listed Anchor Resources, also in the Malaysian state of Terengganu.

Take a deep breath: Bukit Chetai is a granite quarry of 300 acres producing dimension stones that can support large projects for decades to come. Yes, decades.

A Qualified Person’s Report said the proved and probable reserves total 64 million cubic metres.

granitewall11.18@ Bukit Chetai: Dimension stone granite wall exposed. Slabs of the granite are precisely and systematically cut from the deposit.The mine was acquired by Anchor Resources under an interested party transaction in 2017.

An independent valuation then valued the mine at between RM241 million and RM429 million, with the "preferred value" being RM335 million. 

Not too far away, about an hour's drive from the city, Anchor Resoures has yet another asset --
 the Bukit Machang quarry that produces granite aggregates.

watchnowWatch this 3-minute video of the mines    

The article below supplements with more information.
Videos and photos by Ngo Yit Sung, Leong Chan Teik and Anchor Resources

cutter platform1. Cutting granite blocks: The deposit is made up of Terengganu Green and Sekayu White varieties of dimension stones.

About 1,243 cubic metres of rocks were excavated during 3Q18.

Work to excavate deeper into the deposit is ongoing using diamond wire saw machines and a circular saw (photo), which are precise techniques.

The concession is for a 14-year period expiring on 26 Oct 2029.

The mining licence was recently renewed for five years, from 24 Sept 2018 to 23 Sept 2023. 

cutter11.182. Factory operations: Construction of the factory extension building, store and workers’ quarters were completed in July 2018.

Two block cutters (photo) were commissioned in early July 2018 to cut granite blocks into slabs of various dimensions.

Given their hard-wearing nature, these slabs are sold for use as flooring, walls and, particularly, building facades.

The target markets are local as well as overseas, especially China where many quarries have shut down because of new environmental laws.

3. Granite aggregates: At Bukit Machang quarry, the granite rocks (Rosa Tenggo) are fissured, so are not suitable as dimension stones. Instead, they are crushed into aggregates for use in road and rail track projects, sea reclamation, etc.

Anchor Resources has clinched recently a S$75 million contract to deliver 3.6 million tonnes of aggregates to a Brunei contractor over a 4-year period.

The first shipment is expected to set off soon -- while more offtake agreements can be expected from buyers in China and the region.

For more, check out Anchor Resources' website.

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