OM Materials (Sarawak) Sdn Bhd is the owner of 75% of the smelter in Samalaju Industrial Park located in East Malaysia. For the quarter ended 30 September 2018, the company was able to produce 58,121 tonnes of ferrosilicon (“FeSi”) and 55,628 tonnes of manganese alloy named as silicomanganese (SiMn) and high carbon ferromanganese (“HCFeMn”).
As per the release, the production output for the quarter ended 30 September 2018 has continued exceed the furnace design capacity. On an average the production of FeSi was ~64 tonnes, SiMn was ~102 tonnes, HCFeMn was ~152 tonnes on a daily basis which remained at par to the previous quarter ended on 30 June 2018. During this quarter, there was a total sale of 61,179 tonnes of FeSi and 57,097 tonnes of manganese alloy.
OM (Manganese) Ltd is the 100% owner of Manganese mine in Bootu Creek located in Northern Territory, Australia. The mine got restarted in February 2017. For the quarter ended 30 September 2018, the production of Manganese ore was 276,600 tonnes with an average grade of 35.99%. The shipment of the manganese ore was 251,972 tonnes with an average grade of 36.15% Mn by the end of the quarter ended 30 September 2018. Before the shipment to Australia, the Tailings Retreatment Plant is scheduled for pre-delivery commissioning at the facility of the contractor at South Africa during the period of January 2019. Also, it is expected that the commissioning of Bootu Creek is expected to start in the early parts of Q2 2019.
OM Materials (Qinzhou) Co Ltd (OMQ) is the 100% owner of the smelter and sinter plant in the regions of Qinzhou, Guangxi Province, China. It produced 8,283 tonnes of manganese alloy and 9,495 tonnes of manganese sinter ore during the end of this quarter. Also, the total sales of the manganese alloy were 11,718 tonnes. As per the market update, there was a fall in the transaction of ores and alloys by 26.9% this quarter as a result of a net reduction of third-party ores traded.
The company declared an interim dividend of A$0.03 per fully paid ordinary share based on the solid performance of the Group’s operations in the first half of 2018. The company was also included within the S&P/ASX 300 index on 24th September 2018.
For 1H FY18, the company made a net profit of A$90.4 million. The available cash and cash equivalent to the company is $63.6 million. The current market price of the share is A$1.492 (AEST:12:59 pm) with a market capitalization of A$1.16 billion and PE ratio 5.83x.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.