Results from our existing exploration activities at the Lubuk Mandi Mine require further drilling and development of hard rock mining operations. Drillings are being conducted at the north pit of the Lubuk Mandi Mine to determine the area and scope of our mining operations. We also have plans to conduct further exploration and drilling activities at the Bukit Panji Property to obtain a resource estimate at the property.
Plans are being implemented to develop both the Lubuk Mandi Mine and the Bukit Panji Property by investing in mining-related infrastructure. Access roads are being constructed. Waste water facilities and waste water management are being realized. We are redeveloping existing open pits at the Lubuk Mandi Mine by contracting third-party contractors to provide earth-moving and related equipment to upgrade and improve our mining, extraction and processing facilities.
Our intention is to increase gold processing capacity from the current 350,000 tonnes to 600,000 tonnes of hard rock and/or tailings by the year 2017. Additional and larger electro- winning and CIL tanks plus the increasing of smelting capacity for our processing facilities are in the pipeline. Developing our processing of hard rock activities are being organised by purchasing and installing ball mills and crusher equipment.
The Group is currently in the process of applying and negotiating for new concessions in the state of Terengganu. We may expand our business in the future through strategic alliances, joint-ventures and mergers and acquisitions as part of our long term growth strategy with interested and suitable parties to create synergistic values with our existing business operations.
Both our mines are located in Terengganu on the eastern gold belt of Peninsular Malaysia. The mines are also in close proximity to the state capital, Kuala Terengganu and are easily accessible to land, sea and air transportation with existing infrastructure and communications. The mines are also near potential local customers which enables the group to provide an efficient supply chain.
Currently, the group conducts processing of tailings for the sale of gold. Processing of tailings require lower capital expenditure compared to the processing of hard rock mining.
Our business model reduces exploration risks. We engage third party contractors for mining services which includes exploration and other technical requirements. This allows the group to get expertise from other sources while keeping our operating costs low.
The management team is headed and led by our Managing Director, Mr Lim Chiau Woei who has extensive knowledge of, and experience in, the mining industry. Our Board of Directors are also supported with a highly skilled and dedicated team of executive officers with more than 10 years of relevant experience in each of their respective fields.
"Asian markets have continued to be strong drivers of gold demand...gold continues to be an effective commodity as a hedge against other investments, gold remains a long-term strategic asset and wealth preservation tool..."
"I am optimistic that Anchor Resources will be able to grow into a notable stock in SGX’s minerals and oil & gas sector, and create good shareholder value for its investors. I look forward to taking Anchor Resources on its path of progress"
AMC consultants Pty. Ltd (AMC) was engaged by Angka Alamjaya Sdn.Bhd. (AASB), to prepare an independent qualified person’s report (IQPR) for the Lubuk Mandi gold project in Terengganu, Malaysia. The AMC director who has supervised the production of this IQPR is Mr. Andrew Hall and the competent person responsible for estimation and reporting of the exploration targets, exploration results and mineral resources for the project is Mr. Mark Berry.
The project is located in the district of Marang, approximately 17 kilometres south of Kuala Terengganu in the state of Terengganu in Peninsular Malaysia. The mineral assets included in the company comprise gold-bearing tailings mineral resources produced from previous open-pit mining and processing in the 1990s and 2000s, together with in situ gold mineral resources lying below the existing open pit. The project has been held by other parties since 1991. AASB has leased the Project from the State Economic Development Corporation of Terengganu in 2013 and has constructed and commissioned a plant to re-treat the tailings. AASB has assessed options to redevelop mining of the in situ gold mineralisation by deepening the existing open pit and processing them.
AMC has estimated mineral resources for both the in situ and tailings mineralisation. Most of the mineral resource has been categorised as Indicated Mineral Resource. No Measured Mineral Resource has been determined, due to the uncertainties associated with pre-2013 historical drilling, survey control, database integrity and a lack of quality assurance/ quality control (QA/QC). As at 30th September 2015, no ore reserves have been estimated. AASB has completed significant technical and economic analysis to support its investment decision. AMC has reviewed the company’s economic assessment to support the development of the tailings re-treatment operation, and considers it to be a reasonable basis for operation.
The Pre-Feasibility Study (PFS) should be completed soon to determine appropriate mining, processing, infrastructure, and economic parameters to support estimation and reporting of ore reserves. This will include additional metallurgical testwork to assess processing options, performance and gold recovery.