|By Marketwired .||
|March 4, 2014 07:15 PM EST||
HONG KONG, CHINA -- (Marketwired) -- 03/04/14 -- CAA Resources Limited (HKSE: 2112), a Malaysia-based iron ore producer supplying leading steel manufacturers in China, today said it has updated its company website to include new corporate and industry information. The company's main site (www.caa-resources.com) and comprehensive investor relations section now feature expanded information and news on both the company and the mining industry in Malaysia and China, as well as a revised corporate profile and PowerPoint presentation.
CAA also announced that, effective immediately, it has retained a New York-based IR/PR firm specializing in marketing Asia-based public companies to the worldwide investment community. This firm will initiate diverse communications programs designed to introduce CAA to new global markets and maximize the value of CAA shares.
"We are very proud to introduce our new website," said chief executive, Mr. Yang Li. "CAA is growing at a superior rate relative to our industry and we are excited to optimize our communication of this progress, particularly to new investors in the U.S., Canada and Australia as well as those investors in other regions of the world where there is keen interest in commodities and mining stocks."
Investors wishing to receive CAA's corporate communications as they become available may go to http://irdirect.net/2112/corporate_overview and register under Email Alerts.
Investors seeking expanded coverage of CAA may also go to http://companyspotlight.com/114557/caa-resources-ltd.
About CAA Resources
CAA holds extraction rights to significant and high-quality iron ore reserves in Malaysia's Pahang State. The company's open pit mine is located in close proximity to coastal shipping facilities which in turn offer lower production costs and shorter sea transportation routes to China compared to other resource-endowed countries such as Australia, Brazil or India. The high quality of its reserves, low-cost production methods and efficient transportation combine to make CAA a highly competitive supplier, primarily to the China market.
CAA Resources generates positive net cash and has a strong balance sheet following a successful listing on the Hong Kong Stock Exchange in 2013. Its dual track growth strategy is to expand operations beyond its current footprint with the acquisition of new mining rights, and to enhance output from existing operations through further mechanization and enhancement of production technologies.
CAA is primarily focused on the exploration, mining, crushing, beneficiation and sale of iron ore products. Its main asset, the Ibam Mine, has combined measured and inferred mineral resource of 152 million tons at an average grade of 46.5% total iron ore as of December 31, 2012.
The company's principal customers are a variety of reputable Chinese steel mills with whom CAA Resources' management have longstanding and stable relations. According to United Nations Conference on Trade and Development, Chinese apparent iron ore accounted for 53% of the world total consumption. Starting from the second half of 2012, CAA also began selling iron ore products to customers in Malaysia.
In the year ended December 31, 2012, CAA Resources' revenue reached USD 54 million, and sales volume reached approximately 464,000 tons, annual increases of 100% and 53% respectively. For the six months ended June 30, 2013, CAA achieved sales revenue of USD 47 million, up 81% over the same period last year. The company also recorded sales of 405,000 tons of iron ore products, representing an increase of 113%.
This press release is for information purposes only and contains certain forward-looking statements which, by their nature, involve risk and uncertainty because they relate to or depend upon future events and circumstances. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements, including a number of factors outside CAA Resources' control. All forward-looking statements are based upon information known to CAA Resources on the date of this announcement and no representation or warranty is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared. CAA Resources gives no undertaking to update forward-looking statements whether as a result of new information, future events or otherwise. Information contained in this announcement relating to CAA Resources should not be relied upon as an indicator of future performance.
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