|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.
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
Apr. 26, 2015 12:00 PM EDT Reads: 1,869
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
Apr. 26, 2015 12:00 PM EDT Reads: 1,678
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Apr. 26, 2015 12:00 PM EDT Reads: 2,329
WebRTC is an up-and-coming standard that enables real-time voice and video to be directly embedded into browsers making the browser a primary user interface for communications and collaboration. WebRTC runs in a number of browsers today and is currently supported in over a billion installed browsers globally, across a range of platform OS and devices. Today, organizations that choose to deploy WebRTC applications and use a host machine that supports audio through USB or Bluetooth can use Plantronics products to connect and transit or receive the audio associated with the WebRTC session.
Apr. 26, 2015 12:00 PM EDT Reads: 1,913
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
Apr. 26, 2015 11:30 AM EDT Reads: 4,429
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Apr. 26, 2015 11:00 AM EDT Reads: 2,105
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...
Apr. 26, 2015 11:00 AM EDT Reads: 2,117
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable cloud platform.
Apr. 26, 2015 11:00 AM EDT Reads: 1,758
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
Apr. 26, 2015 11:00 AM EDT Reads: 1,478
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the datacenter.
Apr. 26, 2015 11:00 AM EDT Reads: 1,633
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.
Apr. 26, 2015 11:00 AM EDT Reads: 2,573
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
Apr. 26, 2015 11:00 AM EDT Reads: 2,117
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
Apr. 26, 2015 10:45 AM EDT Reads: 1,434
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements around Unified Networks, Cloud Computing strategies, Virtualization around Software defined Data Ce...
Apr. 26, 2015 10:30 AM EDT Reads: 1,767
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
Apr. 26, 2015 10:00 AM EDT Reads: 2,892
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, will discuss how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust I...
Apr. 26, 2015 10:00 AM EDT Reads: 1,978
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
Apr. 26, 2015 10:00 AM EDT Reads: 4,191
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Apr. 26, 2015 10:00 AM EDT Reads: 6,220
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
Apr. 26, 2015 10:00 AM EDT Reads: 5,181
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this case) takes into account the number and quality of contextual references that a user receives.
Apr. 26, 2015 10:00 AM EDT Reads: 2,020