The latest update is out from China Vanadium Titano-Magnetite Mining Co., Ltd. ( (HK:0893) ).
China Vanadium Titano-Magnetite Mining Co., Ltd. announced a projected net loss of approximately RMB22.0 million for the fiscal year ending December 31, 2024, compared to a net profit of RMB9.7 million in 2023. This loss is attributed to a temporary suspension of operations at the Maoling-Yanglongshan Mine due to a subcontractor incident, resulting in reduced production and unabsorbed fixed costs, as well as non-cash impairment losses and lower trading volumes amid a slowing Chinese economy. The announcement advises shareholders and potential investors to exercise caution when dealing with the company’s shares.
More about China Vanadium Titano-Magnetite Mining Co., Ltd.
China Vanadium Titano-Magnetite Mining Co., Ltd. is a mining company incorporated in the Cayman Islands, focusing on the extraction and production of vanadium, titanium, and magnetite. The company operates primarily in the mining industry and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 936
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €15.15M
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