|By ACN Newswire||
|November 5, 2012 10:14 PM EST||
Hong Kong, Nov 6, 2012 - (ACN Newswire) - Sino Prosper State Gold Resources Holdings Limited ("Sino Prosper" or the "Company", together with its subsidiaries, the "Group", Stock Code: 00766.hk), a Chinese precious metals company, announces its unaudited condensed consolidated results for six months ended 30 September 2012 (the "Period")
During the Period, Sino Prosper recorded a growth in revenue of 3.7% to approximately HK$34.1 million (2011: HK$32.9 million), which was mainly attributable to the increase in sales of gold concentrates and amalgam. The Group's net loss attributable to owners was approximately HK$33.1 million (2011: approximately HK$16.1 million). The increase was mainly due to the increase in total staff costs and cost of inventories recognized as expense. Basic and diluted loss per share were HK4.27 cents (2011: loss per share of HK2.11 cents). The Board of Directors did not recommend the payment of an interim dividend for the six months ended 30 September 2012 (six months ended 30 September 2011: Nil).
Gold mining has remained the core business of Sino Prosper. The Group recorded the revenue of approximately HK$34.1 million, of which 67.5% was from the sales of gold (2011: 82.5%); 32.2% from sales of gold concentrate and amalgam (2011: 16.3%); and 0.3% from the sales of sliver concentrates (2011: 1.2%).
During the Period, Aohan Qi Mine ("Aohan Qi"; 70% owned by Sino Prosper) has been focused on further upgrading the existing facilities of the mine to enhance production capacity and increase access to mineralized zones. Operations at the Aohan Qi Processing plant were fully restored at 500tpd in August.
Sino Prosper holds 92% interest in Heilongjiang Zhongyi Weiye Economic & Trade Co., Ltd ("Zhongyi Weiye") and its 5 contiguous exploration licenses covering over 360 km2. Further exploration is being carried out on top of the existing operation. Further test drilling will be conducted at the end of 2012, supplemented by surface trenching and sampling programs.
Mr Richard Sung, CEO of Sino Prosper said, "It is encouraging to have the processing capacity fully restored which was helped by the significant changes of the Aohan Qi Mine local project management team and completion of necessary mining construction. With the improving operations and aggressive mine expansion, the Group is optimistic about improved performance and project delivery going forward, while the Group keeps looking into potential acquisition targets, so as to increase the total mineral reserves and expand the revenue base."
For the proposed acquisition of a mining permit at Qing Jiao Gold Mine in Guizhou Province, it will be postponed to the end of 2012 as additional time is required for the Company to prepare the information to be presented in the Circular, including technical report for the Qing Jiao Gold Mine which was originally expected to be available before August 2012.
In addition to the existing exploration and production projects, Sino Prosper is planning to operate finance business. The Group obtained a Hong Kong money lenders license and the relevant operation has already commenced.
As at 30 September 2012, Sino Prosper maintained a strong financial position with cash and bank balances of approximately HK$435.6 million (as at 31 March 2012: HK$477.2 million). The Group's gearing ratio calculated as a ratio of net debt to total equity was Nil (as at 31 March 2012: Nil). The Group's net asset value as at 30 September 2012 was approximately HK$2,015.6 million (as at 31 March 2012: approximately HK$2,043.3 million). The decrease in the Group's net asset value was mainly due to the decrease in bank balances and cash by approximately HK$41.6 million arising from the purchase of property, plant and equipment, and net cash wheel in operating activities.
On 7 March 2012, Sino Prosper entered into a placing agreement with a placing agent in relation to a placing of up to 152,000,000 warrants to not less than six placees ("2012 Placing Agreement"). The completion of the 2012 Placing Agreement took place on 11 April 2012 with net proceeds of approximately HK$1.4 million which will be used for general working capital of the Group and any acquisitions of the Group in the future.
Mr Sung concluded, "The unresolved European debt crisis and economic slowdown worldwide leading to a pessimistic outlook on the global economy, while gold price keeps fluctuating. In view of the current market conditions, the Group will accelerate the pace of mine expansion and pursue acquisition targets in a prudent manner, while considering proper allocation and preservation of scarce capital resources with an aim to achieve long term success."
About Sino Prosper State Gold Resources
Sino Prosper State Gold Resources Holdings Limited ("Sino Prosper") is a Hong Kong listed precious metals company, focused on various aspects of exploration, development, mining and production of precious metals in China. Sino Prosper is developing the production-ready Zhongyi Weiyi polymetallic gold property in Heilongjiang Province with 5 exploration licensed tenements and has acquired and significantly expanded the Aohan Qi operating gold mine in Inner Mongolia. In 2011 December, Sino Prosper agreed to potentially acquire a Gold Project in Guizhou Province, subject to due diligence and a number of other significant conditions (See Announcement dated 30 December 2011). The Company's strategy is focused on using its strategic relationships in China to acquire producing or near-production assets where the Company believes it can rapidly expand resources and production per share. For more information, please visit www.sinoprosper.com.
Source: Sino Prosper State Gold Resources
Sino Prosper State Gold Resources Holdings Limited Mr Jackie LEE Financial Controller Tel: (852) 2829-8966 (852) 6972-9529 E-mail: [email protected] Quam IR Ms Anita WAN Tel: (852) 2217-2811 E-mail: [email protected] Ms Sharon AU Tel: (852) 2217-2812 E-mail: [email protected] Ms Venus LAM Tel: (852) 2217-2813 E-mail: [email protected]
Copyright 2012 ACN Newswire. All rights reserved.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jul. 29, 2016 10:15 PM EDT Reads: 2,067
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 29, 2016 08:00 PM EDT Reads: 2,746
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
Jul. 29, 2016 07:45 PM EDT Reads: 1,179
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Jul. 29, 2016 06:00 PM EDT Reads: 931
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Jul. 29, 2016 05:15 PM EDT Reads: 393
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jul. 29, 2016 04:45 PM EDT Reads: 1,251
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Jul. 29, 2016 04:15 PM EDT Reads: 1,086
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
Jul. 29, 2016 04:15 PM EDT Reads: 430
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 29, 2016 03:15 PM EDT Reads: 675
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
Jul. 29, 2016 03:00 PM EDT Reads: 515
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 29, 2016 02:00 PM EDT Reads: 1,208
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 29, 2016 01:00 PM EDT Reads: 2,130
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Jul. 29, 2016 11:15 AM EDT Reads: 696
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Jul. 29, 2016 11:15 AM EDT Reads: 1,352
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 29, 2016 09:45 AM EDT Reads: 2,160
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Jul. 29, 2016 09:45 AM EDT Reads: 1,041
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 29, 2016 09:45 AM EDT Reads: 1,490
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 29, 2016 07:15 AM EDT Reads: 1,657
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 29, 2016 06:45 AM EDT Reads: 2,385
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 29, 2016 04:45 AM EDT Reads: 2,585