Southern Alliance Mining guides for gross and higher net loss for 1HFY2025 from decrease in iron ore prices
The decrease in selling prices for iron ore concentrate, crushed iron ore and iron ore tailing is due to slowdown in China’s steel industry.
Southern Alliance Mining has guided for a gross loss for 1HFY2025 ended Jan 31, 2025, compared to a gross profit reported in the same period a year ago.
The group is also expecting to report a higher net loss for 1HFY2025, mainly due to a decrease in average realised selling price for iron ore concentrate, crushed iron or iron ore tailing for the reporting period, which was influenced by the slowdown in demand from China’s steel industry.
The group expects to announce its results by March 17, 2025.
Shares in Southern Alliance Mining Qns closed 7.5 cents higher or 18.293% up at 48.5 cents on March 10
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10