Anchor Resources Limited, which is headquartered in Kuala Lumpur, Malaysia made, its debut on the SGX-ST on the 18th of March 2016. Anchor Resources Limited is engaged in the business of exploration, mining and production of gold for sale in Malaysia. The company holds concession rights to two mining areas- the Lubuk Mandi Mine & the Bukit Panji Property both situated on the Eastern Gold Belt of Peninsular Malaysia, in the state of Terengganu.
THE ANCHOR RESOURCES GROUP
Our company together with our Malaysia subsidiaries, Angka Alamjaya Sdn. Bhd., and Angka Mining Sdn. Bhd., was incorporated in the Republic of Singapore on the 12th of August 2015 as a private limited company under the name of Anchor Resources Pte. Ltd. We were subsequently listed on the Catalist board of the Singapore Exchange (“SGX”) on 18 March 2016 as ‘Anchor Resources Limited’.
We are in the business of exploring, mining and producing gold for sale primarily in Malaysia. Our headquarters are in Kuala Lumpur and our group has the concession rights to the Lubuk Mandi Mine and the Bukit Panji Mine, both properties located in the state of Terengganu, Malaysia. Our current focus for mining and production of gold is at the Lubuk Mandi Mine where our project partners and appointed main contractors continue with exploration, gold mining, processing and smelting, as well as constructing and developing required equipment for the operations at the mine.
Exploration work involves and includes geological mapping and surveying, trenching and drilling to determine the optimal locations and number of holes to drill on a given site. These are determined by third-party geologists. Professional geologists are engaged to conduct drilling activities in the first phase of exploration to assess the tailings material. Drilling is primarily done by the reverse circulation method to conduct sampling, bulk density determination, testing of extracted hard rock core which are then sent to Australia for further testing and assay generation and reporting. Quality control procedures are then implemented to ensure chemical analysis results are robust and are suitable for resource estimation.
Mining at the Lubuk Mandi Mine consists of mainly two methods of the mining process - mining of tailings and hard rock mining. For the mining of tailings or open surface mining, hydraulic excavators are used to reclaim tailings at the Tailings Dam which are then loaded onto tipper trucks which deliver the tailings material onto feed hoppers at the processing and production facility for further handling and processing. This method of mining must take into account proper trucking routes, safe road inclinations and perfect mining schedules to ensure timely and smooth operations of excavators, trucks, vehicles and personnel. For hard rock mining, the open pit mining method is utilised which is a type of surface mining that involves extracting gold ore from an open pit. Hard areas require blasting to loosen the rock surface prior to excavation. This method of mining is chosen when the deposit is located nearer the surface since there is less overburden as the open pits are relatively shallow ranging from 60 meters to 120 meters and are dug in batches for maximum productivity. The gold ore is then excavated and extracted from the earth and transported by tipper trucks to the processing plant.
The Lubuk Mandi Mine is currently equipped with on-site processing & production facilities. After the mining and excavation process is completed, both tailings and hard rock ore are received at the processing facility to undergo a number of processes. Tailings are transferred to the ‘Trommel’ and ‘Scrubbers’ to remove unwanted material and are stored for further processing. The excavated hard rock ore is sent to various ‘Crushers’ to break down the hard rock to a size suitable for further grinding. The crushed ore is then sent for ‘Stock Piling’ via a conveyor system. The material is next entered into a ‘Ball Mill’ with water to form wet slurry. The gold containing slurry from both tailings and hard rock will now go through processes that involve ‘Flotation’, ‘Thickening’, ‘CIL’ or ‘Carbon-In-Leach’’, and ‘Electro-Winning’. The slurry is now treated with Nitric acid and dried before it is sent for ‘Smelting’ in an induction furnace at a temperature of 1,150 degrees Celsius. The golden liquid is now poured into moulds and cast into gold. These are unrefined gold bars of gold purity, normally within the range of 60.0% to 95.0% gold.
THE PROSPECTS FOR THE GOLD MINING INDUSTRY ARE GOOD
- Demand For Gold
There will always be a consistent global demand for gold as it has been historically viewed as a hedge against inflation.
- Market For Gold In Asia
Huge market for gold as investments, ornaments and jewellery in Asia especially China & India. Recent developments in the Asian gold markets provide a conducive environment for exponential growth of our group’s business.
- Fears & Doubts Over Reserve Currencies
Stability of major reserve currencies has been questionable. The global trend shows that there may be a shift towards gold as an investment as it is viewed as a more stable currency.
- Banks & Foreign Exchange Reserves
Global economic turbulences could prompt banks to lower currency reserves and increase gold reserves.
The Lubuk Mandi Mine is located at the Eastern gold belt in Peninsular Malaysia and is one of the four recognised gold belts in the country extending from Mersing in Johor to the Lubuk Mandi mine and further north. The mine is within 2 km from the East cost of Terengganu and approximately 17 km south of the capital, Kuala Terengganu. The Bukit Panji Property is also located at the Eastern gold belt in Peninsular Malaysia and is approximately 10 km from Kuala Terengganu and approximately 4 km north of the Lubuk Mandi Mine.
LEBUK MANDI MINE
- The mine consists of two leases which cover an aggregate area of approximately 221.53 hectares.
- The Company was granted concession rights in February 2013
- The mine operates with a current capacity of 350,000 tonnes per annum at the on-site processing facility, and the ability to increase throughput to 600,000 tonnes per annum with key components in place.
- Between the months of July and December 2015, the mine recorded sales of approximately 142.5 oz of gold amounting to RM0.68 million.
THE BUKIT PANJI PROPERTY
- The mine has an area of approximately 53.53 hectares.
- The proprietary mining licence for this property is currently in the the process of being renewed.
- Granted concession rights in respect of this property are subject to the renewal of the propriety mining licence.
News, events and happenings about the group.
To commemorate the listing ceremony on the Singapore Exchange, Anchor Resources Limited hosted an appreciation lunch for invited guests, senior staff, key executives, management, directors from SGX, UOB Kay Hian Private Limited and other professionals on the 18th of March 2016. The Luncheon was held at the Amber Room, Sheraton Towers Hotel Singapore.
On the 1st of February 2016 as part of the Company’s Corporate Social Responsibility (CSR), the Group’s subsidiary, Angka Alamjaya Sdn Bhd., together with local authorities and NGO’s organised a Bag Presentation Ceremony at the Sekolah Kebangsaan (SK) Rhu Rendang in Marang in the state of Terengganu. Bags were presented to the less fortunate children around the vicinity, and handicapped children whose parents were also handicapped and could not afford to purchase their children’s essential school items.