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cst mining group ltd (985) Details

CST Mining Group Limited, an investment holding company, engages in the acquisition, exploration, development, and mining of copper and other mineral resources. It operates through Mining Business — Australia, Investments in Financial Instruments, and Property Investment segments. The company owns a 100% interest in Lady Annie copper mine that is located in Queensland, Australia. It is also involved in trading securities; and investing in available-for-sale investments and convertible notes, as well as in properties investment and letting activities. In addition, the company engages in the provision of secretarial services; vessel holding business; and securities investment activities. It operates in the People’s Republic of China and Australia. The company was formerly known as China Sci-Tech Holdings Limited. CST Mining Group Limited is headquartered in Wan Chai, Hong Kong.

97 Employees
Last Reported Date: 12/22/15

cst mining group ltd (985) Top Compensated Officers

Chairman, Chairman of Nomination Committee an...
Total Annual Compensation: $7.5M
Chief Financial Officer, Executive Director a...
Total Annual Compensation: $235.0K
Executive Director
Total Annual Compensation: $269.0K
Executive Director
Total Annual Compensation: $220.0K
Executive Director
Total Annual Compensation: $193.0K
Compensation as of Fiscal Year 2015.

cst mining group ltd (985) Key Developments

CST Mining Group Limited, Special/Extraordinary Shareholders Meeting, May 16, 2016

CST Mining Group Limited, Special/Extraordinary Shareholders Meeting, May 16, 2016, at 10:00 China Standard Time. Location: Boardroom 6, Mezzanine Floor, Renaissance Harbour View Hotel 1 Harbour Road Wanchai Hong Kong Agenda: To increase authorized share capital of the company by creating new shares; to authorize and grant specific mandate to allot and issue up to 23,400,000,000 new shares of the company at the placing price of HKD 0.10 per placing share pursuant to the proposed placing of the placing shares to individual, corporate and/or new institutional investors; to approve the subscription agreement dated 15 March 2016 and entered into between the company; and Mr. Chen Weixing to subscribe for 6,240,000,000 new shares of the company under the placing at the subscription price of HKD 0.10 per subscription share and all transactions contemplated there under; and to consider change in the name of the company.

CST Mining Group Limited Provides Group Earnings Guidance for the Financial Year Ending 31 March 2016

CST Mining Group Limited provided group earnings guidance for the financial year ending 31 March 2016. Based on a preliminary review by the company's management on the management accounts of the group, the board of directors of the company informed the shareholders of the company and potential investors of the company that the group is expected to record a loss for its financial year ending 31 March 2016 as compared with the profit recorded by the group for its financial year ended 31 March 2015. Such expected loss of the group was primarily attributable to the combined effect of the following factors: the significant decrease in revenue derived from the copper mining business of the group due to the persistent low copper market price and the reduction in volume of copper produced from the Lady Annie mine during the financial year ending 31 March 2016. The revenue derived from copper mining business for the eleven-month period ended 29 February 2016 is approximately $42 million as compared to $109 million for the year ended 31 March 2015; impairment loss in relation to the group's copper mining business which includes loss on inventories written down to net realisable value during the financial year ending 31 March 2016; and the expected decrease in gain on fair value changes of financial assets at fair value through profit or loss for the year ending 31 March 2016 as compared with that for the year ended 31 March 2015 as derived from the Group's investment in financial instrument.

CST Mining Group Limited Appoints Leung Hoi Ying as Independent Non Executive Director

The board of directors of CST Mining Group Limited announced that Mr. Leung Hoi Ying has been appointed as an independent non-executive director of the company with effect from 29 January 2016. Mr. Leung graduated from the Guangdong Foreign Trade School in the People’s Republic of China. He has over 30 years of experience in international trade and business development. Mr. Leung was an independent non-executive director of China New Energy Power Group Limited. He is currently an independent non-executive director of China Strategic Holdings Limited and G-Resources Group Limited.

 

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