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Joelton
Supreme |
28-Nov-2022 11:10
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Southern Alliance Mining
On Nov 22, Southern Alliance Mining : QNS 0% managing director Pek Kok Sam acquired 1,616,400 shares of the company at 41 cents per share.
With a consideration of S$662,724 the married deal took his total interest in the Catalist-listed high-grade iron ore producer from 63.21 per cent to 63.55 per cent.
Pek has over 20 years of experience in the mining and exploration of iron ore, tin, and limestone with his early roots in conducting limestone quarrying activities in Malaysia from 1993 to 2005.
The group sells iron ore concentrate of low level of impurities with total Fe grade of between 62 per cent and 65 per cent to steel mills and trading companies mainly located in Malaysia and China.
In addition, it also sells pipe coating materials that are crushed iron ore with a natural characteristic of a higher density for subsea pipes, and also began selling iron ore tailings since its FY20 (ended Jul 31).
The group&rsquo s revenue decreased 53.9 per cent year on year from RM387.4 million (S$119 million) in FY21 to RM178.7 million in FY22, mainly attributable to intense overburden removal at the Chaah Mine, which resulted in lower volume of ore extraction in FY22.
Pek noted that as the group operates in the business of mining, its financial performance is naturally affected by the stage of operations at its mines.
This meant that in FY22, as per the schedule, resources were heavily focused on overburden removal and exploration activities.
Pek is responsible for the group&rsquo s business operations, including quality analysis and control, safety and environment, and site management aspects.
Headquartered in the state of Pahang, Southern Alliance Mining has a 14-year track record in the exploration, mining, and processing of high-grade iron ore in Malaysia.
The company listed on Catalist in June 2020, with an initial offer price of 25 cents per share, and market capitalisation of S$122 million.
This has since grown to S$198 million.
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Joelton
Supreme |
28-Nov-2022 11:09
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Southern Alliance Mining managing director adds to stake at 41 cents per share
FOR the five trading sessions that spanned Nov 18 to 24, the Straits Times Index (STI) declined 1.0 per cent, with the Hang Seng Index falling 1.9 per cent and the FTSE Bursa Malaysia KLCI gaining 5.0 per cent.
Overall, institutions were net sellers of Singapore stocks for the five sessions ended Nov 24, with S$56 million of net outflows.
This brought the 2022 year to Nov 24 net institutional inflows to S$1.13 billion. DBS : D05 -0.71%, CapitaLand Integrated Commercial Trust : C38U +2.53%, Mapletree Logistics Trust : M44U 0%, Singtel : Z74 0% and Keppel Reit : K71U +1.16% led the net institutional outflows for the five sessions.
Share buybacks
There were 24 primary-listed stocks conducting share buybacks over the five sessions ended Nov 24, with a total consideration of S$10.1 million, a moderately slower pace compared to the consideration totals for the preceding four weeks.
Best World International : CGN +4.65% led the five-session buyback consideration tally, purchasing 2,462,100 shares at an average price of S$1.66 per share.
Director and substantial shareholder transactions
The five trading sessions saw more than 70 changes to director interests and substantial shareholdings filed for 25 primary-listed stocks.
This included 11 company director acquisitions with two disposals filed, while substantial shareholders filed five acquisitions and four disposals.
NoonTalk Media
On 21 Nov, Singapore-based media entertainment company NoonTalk Media : SEJ 0% debuted on Catalist. NoonTalk Media&rsquo s IPO of 22 million shares was fully subscribed by investors at 22 cents per share.
Among the anchor investors, LPG market leader Union Energy Corporation invested as part of its strategic partnership to tap into digital media growth opportunities to reach out to a younger generation of customers.
Based on the final offer document, NoonTalk Media executive drector and chief executive officer, Dasmond Koh remains the controlling shareholder post-IPO, with an approximate 62.55 per cent interest.
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Joelton
Supreme |
29-Sep-2022 09:42
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Southern Alliance Mining earnings down 89%, maintains diversification plans
Pahang-based iron miner Southern Alliance Mining has reported earnings of RM16.3 million for FY2022 ended July, down 89% y-o-y.
Revenue in the same period was down 53.9% y-o-y to RM178.7 million, in line with a softer global market for iron ore and lower production volume.
The company plans to expand into gold mining so as to diversify its earnings base.
In Jan this year, the company has received approval from the Johor government to carry out exploration work for gold mining at the Tenggaroh Mine.
Since then, it has made &ldquo significant advancements&rdquo in its sampling, mapping, and exploration activities that have helped narrow down into the key mineable areas.
Subsequently, Southern Alliance Mining has come up with an &ldquo extensive&rdquo exploration program to carry out exploration and drilling activities at the key mineable areas that is aligned with the gold mineralisation.
In addition, the company has acquired two associate companies to expand its iron ore mining activities as well as mining of other base metals so that it will not be as susceptible to concentration risks.
The company will continue to be on the lookout for such opportunities going forward.
&ldquo We have come a long way and achieved much since obtaining the mining rights to the Chaah Mine in 2008. It is time for us to build on that foundation to further extend and strengthen our roots,&rdquo says CEO and executive director Pek Kok Sam.
&ldquo We are confident that our expansion and diversification strategy will bring about more value to shareholders going forward, in the form of longer earnings visibility, reduced earnings volatility and sustainable earnings growth,&rdquo he adds.
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sharecare
Member |
11-Nov-2021 14:35
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just noticed, 70,000 share buy back yesterday https://links.sgx.com/1.0.0/corporate-announcements/RSNE1ZEQ73O8CXYC/34eb436e7f87f5cd61a13706969adb6ed507464a0049b772d21fa0900aa68545 |
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sharecare
Member |
10-Nov-2021 17:03
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remember to ride the wave well, haha i bought in at this semi peak, waiting forever for this to move XD | ||||
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ozone2002
Supreme |
10-Nov-2021 16:33
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Last:0.72  +0.065Under the radar, mining stock riding the commodity rally printing cash great biz returns gd luck dyodd |
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Joelton
Supreme |
25-Sep-2021 10:23
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Southern Alliance Mining' s H2 net profit jumps 257 per cent to RM96.7m
SOUTHERN Alliance Mining (SAM), a Malaysian iron-ore producer, posted a 257 per cent jump in net profit to RM96.7 million (S$31.2 million) for the half-year ended July 31 this year, up from RM27.1 million a year ago.
Revenue rose to RM235.3 million for the same period, up 108 per cent from the RM113.2 million last year.
Earnings per share rose to 19.78 Malaysian cents, up 254 per cent from 5.58 Malaysian cents in the year-ago period.
A final dividend of S$0.016 per share was declared for FY2021, up from S$0.006 per share declared the year before.
For the full year ended July 31, 2021, net profit was up 139 per cent year on year to RM148.1 million revenue was up 52 per cent to RM387.4 million.
The company said that this came on the back of increased iron-ore concentrate sales revenue. Iron-ore concentrate sales volume increased by about 8 per cent to 600,000 dried metric tonne (DMT) its average realised selling price rose by 76 per cent year on year to reach RM626.42 per DMT.
SAM' s gross profit margin for the year rose to 53.7 per cent, from 42.1 per cent a year ago.
Furthermore, other income increased by 130 per cent to RM6.7 million in FY2021 due to an increase in interest income as a result of higher cash and bank balances.
In particular, the company received a one-off government grant from the Monetary Authority of Singapore amounting to RM600,000 in FY2021, compared to a grant of RM400,000 from the Social Contribution Appellate Board of Malaysia in FY2020.
Net cash and cash equivalents at the end of FY2021 rose to RM245.5 million from RM149.9 million a year earlier. Net cash flows from operating activities also improved, from RM111.6 million the year before to RM173.1 million.
The company said that the group was able to leverage the rise in iron-ore demand as key markets adopted an infrastructure-led recovery, which the company attributed to widespread stimulus packages targeted at boosting investment and spending.
Still, the company has seen a significant correction in iron-ore prices due to the Chinese government' s tightening on steel output and the closure of the Ningbo port this year to curb the spread of Covid-19.
In the meantime, the company said that suboptimal production in Brazil, coupled with geopolitical tension between China and Australia, have led Malaysian iron-ore players to emerge as a primary beneficiary of the strong demand momentum.
The company noted that it has acquired an additional mining lease adjacent to its existing Mao&rsquo kil mines and will continue with its exploration activities at its Chaah and Mao' kil mines. It is also diversifying into gold-mining operations in a joint venture agreement that it entered into with the Sultan of Johor in July.
In FY2021, the group mined 0.97 million tonnes of ore from the Chaah mine and processed approximately 1 million tonnes of ore.
Chief executive officer and executive director of SAM Pek Kok Sam said: " Although the Covid-19 pandemic is still evolving, we are confident of our growth prospects as iron-ore demand continues to be strong and hence, will continue to buoy iron-ore prices."
In April this year, Mr Pek said that the company had also started selling tailings, or waste from the iron-ore concentrate process, apart from iron-ore concentrate and pipe coating materials.
" The main driver of the decision to sell tailings is the high market price. The high price has brought in buyers, particularly those whose business models comprise upgrading low-grade ore (including tailings) by mixing it with higher-grade ore for onward sales," SAM' s chief executive Pek Kok Sam told The Business Times then.
" As tailings are not the group' s main product, any sale arising from tailings will be a bonus. The demand for tailings will be there as long as the iron ore price remains high," he added.
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Blue_Dragon
Member |
31-Aug-2021 13:26
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China-Australia trade: iron ore miner Fortescue set earnings, shipment records in past financial year Since prices hit an all-time high of more than US$230 a tonne in May, prices for the steelmaking ingredient have fallen with Chinese authorities curbing output Beijing blocked several goods amid its protracted geopolitical conflict with Canberra, but iron ore shipments are still welcomed with open arms 31-Aug-2021. South China Morning Post. | ||||
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muifan
Supreme |
19-Jul-2021 11:55
Yells: "Take the leap of faith dont regret 20 years later!" |
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I believe what is holding the price up is not the JV news.. it is the bullish news to Iron Ore prices like supply crunch on Vale and Rio Tinto.. thus driving iron ore prices up.. If iron ore price continue to be strong.. this counter should test $1.50 soon :)) |
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Alvin2042
Master |
17-Jul-2021 22:57
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Do a comparison with Fortress.
Fortress corporate action seem more exciting with a takeover of an explored iron/copper mine that seem cheap given current iron/copper prices. Production of the new mine will start early new year. Whereas Southern, they will still need to go through exploration stages for the new venture.
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muifan
Supreme |
17-Jul-2021 12:09
Yells: "Take the leap of faith dont regret 20 years later!" |
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good news meh?
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Joelton
Supreme |
17-Jul-2021 11:19
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Southern Alliance Mining enters JV with Sultan of Johor to carry out exploration work diversifies business
Southern Alliance Mining announced on July 16 that it has entered into a joint venture agreement with Duli Yang Maha Mulia Sultan Ibrahim Ibni Almarhum Sultan Iskandar to carry out exploration work for gold and any other mineral or deposits and/or mining activities at the Tenggaroh mine, Johor.
The JVCo will be 85% owned by the group, while the Sultan will hold the remaining 15%.
In view of the current opportunity presented by the joint venture and gold mining operation, the group proposes to diversify its existing business of selling iron ore concentrate of low level of impurities with total Fe grade of between 62% to 65% to steel mills and trading companies mainly located in Malaysia and China and pipe coating materials that are crushed iron ore with a natural characteristic of a higher density for subsea pipes to include the mining of gold and other precious metals, base metals and minerals.
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PhillipTan
Supreme |
16-Jul-2021 20:38
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Southern Alliance Mining enters JV with Sultan of Johor to carry out exploration work diversifies businessSouthern Alliance Mining announced on July 16 that it has entered into a joint venture agreement with Duli Yang Maha Mulia Sultan Ibrahim Ibni Almarhum Sultan Iskandar to carry out exploration work for gold and any other mineral or deposits and/or mining activities at the Tenggaroh mine, Johor.The JVCo will be 85% owned by the group, while the Sultan will hold the remaining 15%. In view of the current opportunity presented by the joint venture and gold mining operation, the group proposes to diversify its existing business of selling iron ore concentrate of low level of impurities with total Fe grade of between 62% to 65% to steel mills and trading companies mainly located in Malaysia and China and pipe coating materials that are crushed iron ore with a natural characteristic of a higher density for subsea pipes to include the mining of gold and other precious metals, base metals and minerals. As at July 16, shares in Southern Alliance Mining closed 8.8% higher at $1.11. |
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Joelton
Supreme |
05-Jul-2021 09:20
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Southern Alliance Mining
On June 23, Remparan Sdn Bhd acquired 25,000 Shares in Southern Alliance Mining via a market transaction at an average price of 97.4 cents per share.
Remparan Sdn Bhd is wholly owned by Multiline Sdn Bhd, which is 70 per cent owned by Southern Alliance Mining chief executive officer and executive director Pek Kok Sam and 30 per cent owned by his brother, Pek Kok Hua.
The transaction increased Mr Pek Kok Sam' s total interest in the Catalist-listed stock from 70.32 per cent to 70.33 per cent.
His preceding transaction was an acquisition of 65,000 shares at 60.0 cents per share on 17 March.
With more than 18 years of experience in the mining and exploration of iron ore, tin and limestone industry he is responsible for the group' s business operations, including quality analysis and control, safety and environment, and site management aspects.
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fighting
Master |
14-May-2021 19:03
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Great pulled back by social distancing announcement, likely panic selling is over. | ||||
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SgYuan
Supreme |
12-May-2021 11:26
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px breakdown 153 wabc wa hit 135 near w4 wb up 149 px hit 149 wc dn 127 px hit 137 mini ew start 135 w1 149 w2 dn 61.8% 142 - px hit low 137 - px need to breakup 1h conversion 141 - then w3 can come - if not wc dn 
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SgYuan
Supreme |
11-May-2021 09:31
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w5 powerful up 161.8 156 px hit 157 1m conversion 153 must hold then next fib 160 
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MBULLISH
Elite |
10-May-2021 21:36
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There are new buy calls in my group for today new play strike while the iron is hot join us in our group sinostar LHN mewah grand venture there will be new plays coming soon so feel free to join our group in telegr |
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SgYuan
Supreme |
10-May-2021 21:34
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30m conversion 138
watch out |
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MBULLISH
Elite |
10-May-2021 21:31
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Congrats those who bought together with me since 30 plus cent todsy I have unloaded some to buy more into fortress and msc those 2 buggers msc and fortress will have more meat to catch up above $1 cheers for joining the commodity bull run
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