ANCHOR RESOURCES LIMITED
Anchor Resources was founded with the establishment of our Malaysian subsidiary, Angka Alamjaya Sdn. Bhd., in November 2011.
We are headquartered in Malaysia and the Group is principally engaged in the business of exploration, mining and production of gold for sale in Malaysia. The group has concession rights at The Lubuk Mandi Mine located in the state of Terengganu, Malaysia.
Our focus currently is for mining and production of gold at The Lubuk Mandi Mine and our processing facilities utilise the gold treatment and extraction method of flotation to produce gold from tailings material with gold recoveries.
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 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 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.