Our Milestone
FY2016
Awarded Bukit Besi Mining Right
- 13 years long-life mining rights expiring in the year 2033
- Two mining leases covered area of 526.2 ha
FY2017
Completion of JORC Drilling Campaign
- Completed JORC drilling campaign on East, Valley & West Deposits
- Construction of major processing plants
FY2018
Commercial Production Launch
- Commercial production of high grade iron ore concentrate in April 2018
- Indicated and inferred Mineral Resource of 5.41 Mt in the East, Valley and West Deposits
FY2020
First Iron Ore Company Listed on SGX-ST
- S$15.0 million in gross proceeds raised
Dividend Pay-Out Exceed 15% Target
- S$2.6 million OR 29.3% Dividends distributed
FY2021
Record Underlying Earning and Dividend Exceed 20% Target
- Record underlying EBITDA of US$26.6 million
- Interim dividend FY2021 of S$5.0 million, a 20.6% dividend payout ratio
FY2022
Acquisition of Fortress Mengapur
- Gross consideration of US$30.0 million plus 1.25% Gross Revenue Royalty
- Comprises 4 mining leases covering tenements area of 951.68 ha.
FY2023
Commissioning & Commencement of Production at CASB Mine
- Commissioning of CASB mine and commencement of production; realise synergies by leveraging expertise & downstream distribution
Record Volume Sold
- Volume sold for FY2023 reached the highest level since the Group’s inception, increasing 52.8% yoy to 546,076 DMT
- Final dividend FY2023 of S$4.2 million, a 25.2% dividend payout ratio
FY2024
Two New Exploration Licenses in Sabah
- Commenced exploration in May 2023
- Opportunity to grow commodities profile and diversify revenue streams
Shareholders’ Approval to Diversify into New Minerals
- Obtained approval to mine and trade new minerals on 28 June 2023