Business
Anchor Resources and its subsidiaries are engaged in the business of exploration, mining and production of gold for sale in Malaysia. Headquartered in Malaysia, Anchor Resources has concession rights to the Lubuk Mandi Mine and the Bukit Panji Property located in Terengganu, Malaysia.
Anchor Resources and its subsidiaries are engaged in the business of exploration, mining and production of gold for sale in Malaysia. Headquartered in Malaysia, Anchor Resources has concession rights to the Lubuk Mandi Mine and the Bukit Panji Property located in Terengganu, Malaysia.
Anchor Resources currently focuses on the mining and production of gold at the Lubuk Mandi Mine. It has appointed Sinomine Resource Exploration Co., Ltd. as the main contractor to carry out hard rock exploration, gold mining, processing and smelting works, as well as build and develop equipment required at the Lubuk Mandi Mine.
Competitive Strengths
Mines are strategically located and are close to customers
Anchor Resources’ mines are strategically located near land and air transport infrastructure. The mines are also in close proximity to many potential customers.
Anchor Resources’ mines are strategically located near land and air transport infrastructure. The mines are also in close proximity to many potential customers.
Lower capital expenditure
Anchor Resources currently conducts processing of tailings for sale of gold,which requires lower capital expenditure as compared to the processing of hard rock.
Anchor Resources currently conducts processing of tailings for sale of gold,which requires lower capital expenditure as compared to the processing of hard rock.
Cost efficient business model
Anchor Resources has engaged third party contractors to conduct certain services, including exploration and mining activities, allowing the Group to lower exploration risks, as well as maintain relatively low capital expenditure.
Anchor Resources has engaged third party contractors to conduct certain services, including exploration and mining activities, allowing the Group to lower exploration risks, as well as maintain relatively low capital expenditure.
Strong working relationship with local authorities
Anchor Resources has built up strong working relationships with local authorities and various Malaysian government agencies regulating the mining industry.
Anchor Resources has built up strong working relationships with local authorities and various Malaysian government agencies regulating the mining industry.
Business Strategies and Outlook
Further exploration and development
Anchor Resources intends to commence further exploration and drilling activities and obtain an estimate of its resources at the Bukit Panji Property.
Anchor Resources intends to commence further exploration and drilling activities and obtain an estimate of its resources at the Bukit Panji Property.
The Group intends to further develop Lubuk Mandi Mine and the Bukit Panji Property by investing in mining-related infrastructure.
Expansion of gold processing capacity
Anchor Resources plans to increase gold processing capacity to approximately 600,000 tonnes of hard rock and/or tailings per annum by FY2017.
Anchor Resources plans to increase gold processing capacity to approximately 600,000 tonnes of hard rock and/or tailings per annum by FY2017.
Expansion of business and operations
Anchor Resources is in the process of negotiating and applying for a new concession in the state of Terengganu, Malaysia. The Group may expand business through strategic alliances, joint ventures and potential mergers and acquisitions.
Anchor Resources is in the process of negotiating and applying for a new concession in the state of Terengganu, Malaysia. The Group may expand business through strategic alliances, joint ventures and potential mergers and acquisitions.
Positive Prospects
Anchor Resources believes that the prospects for the gold mining industry are positive:
Anchor Resources believes that the prospects for the gold mining industry are positive:
1) Demand for gold is largely stable;
2) Strong demand for gold in Asia;
3) Doubts over various reserve currencies;
4) Banks may diversify their foreign exchange reserves.
Blogger Comment
Facebook Comment