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china vanadium titano-un adr (CVDMY) Snapshot

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Current Stock Chart for CHINA VANADIUM TITANO-UN ADR (CVDMY)

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china vanadium titano-un adr (CVDMY) Details

China Vanadium Titano-Magnetite Mining Company Limited, an investment holding company, is engaged in the mining, ore processing, iron pelletizing, and sale of iron concentrates, iron pellets, and titanium concentrates in the People’s Republic of China. The company owns four vanadium-bearing titano-magnetite mines, including the Baicao, Xiushuihe, Yangqueqing, and Cizhuqing mines; and one ordinary iron ore mine, the Maoling-Yanglongshan mine located in Sichuan Province. It primarily serves steel producers and downstream users of titanium-related products. The company is based in Central, Hong Kong.

1,918 Employees
Last Reported Date: 09/4/14

china vanadium titano-un adr (CVDMY) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: CNY278.0K
Chairman, Chairman of Nomination Committee an...
Total Annual Compensation: CNY391.0K
Chief Financial Officer, Company Secretary an...
Total Annual Compensation: CNY1.2M
Compensation as of Fiscal Year 2013.

china vanadium titano-un adr (CVDMY) Key Developments

China Vanadium Titano-Magnetite Mining Company Limited Revised Earnings Guidance for the Year Ended December 31, 2014

The Board of China Vanadium Titano-Magnetite Mining Company Limited provided an update to the Shareholders and investors of the company that the independent professional valuer has recently adjusted their estimation on the fair value of the Group's exchangeable notes, rendering a decrease in fair value gains on such exchangeable notes. In view of that, upon the further review by the company of the latest unaudited management accounts of the Group, it is expected that the loss and total comprehensive loss attributable to owners of the company for the year ended December 31, 2014 will be further increased to not more than approximately RMB 390 million. As mentioned in the profit warning announcement on November 28, 2014, the group expected to record a loss and total comprehensive loss attributable to owners of the company of not more than approximately RMB 300 million for the year ended 31 December 2014 based on the initial assessment of the Group's unaudited management accounts, as compared with the profit and total comprehensive income attributable to owners of the company of approximately RMB 179.1 million recorded for the corresponding period in 2013. As announced in the update announcement on March 13, 2015, such loss and total comprehensive loss attributable to owners of the company was expected to increase to not more than approximately RMB 350 million mainly due to the recognition of further non-cash impairment loss on certain assets of the Group.

China Vanadium Titano-Magnetite Mining Company Limited Provides Earnings Guidance for the Year Ended December 31, 2014

China Vanadium Titano-Magnetite Mining Company Limited provided earnings guidance for the year ended December 31, 2014. For the period, the company expects that the loss and total comprehensive loss attributable to owners of the company for the year ended December 31, 2014 will be further increased to not more than approximately RMB 350 million. Such an increase is mainly attributable to the recognition of further non-cash impairment loss on certain assets of the group.

China Vanadium Titano-Magnetite Mining Company Limited Provides Update on Event of Default

China Vanadium Titano-Magnetite Mining Company Limited announced in the 2014 announcements, among other things, that: (a) an Event of Default under the Exchangeable Notes occurred on 2 December 2014 by virtue of the Issuer’s failure in paying an amount payable by it under the Note Certificate within five business days following the Final Maturity Date; and (b) on 30 December 2014, the Investor granted a waiver in favour of the Issuer to waive the Event of Default and entered into the supplemental arrangement contemplated under the Supplemental Deed (the Supplemental Arrangement), subject to the consent of the other Noteholders. On 8 January 2015, the Investor received the consent from the other Noteholders to give effect to the waiver and the Supplemental Arrangement except that the Final Maturity Date under the Supplemental Arrangement shall be brought forward from 25 June 2015 to 25 March 2015. Save for the above, there are no other revisions made to the Supplemental Arrangement. Accordingly, the Final Maturity Date has been extended from 25 November 2014 to 25 March 2015 under the Supplemental Arrangement. On even date, the Investor granted its consent to the other Noteholders in relation to such other Noteholders’ waiver and supplemental arrangement which are materially similar in content to the Supplemental Arrangement. The Directors believe that the terms of the Supplemental Deed are fair and reasonable and in the interest of the shareholders of the company as a whole for the reasons set out in the 2014 Announcements and in view of the earlier date of potential redemption on 25 March 2015 (as opposed to 25 June 2015).

 

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CVDMY Competitors

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Company Last Change
Atlas Iron Ltd A$0.14 AUD -0.005
Ferrexpo PLC 61.75 GBp +1.75
Gindalbie Metals Ltd A$0.02 AUD +0.001
MMX Mineracao e Metalicos SA R$0.65 BRL -0.01
Mount Gibson Iron Ltd A$0.22 AUD +0.005
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CVDMY

Industry Average

Valuation CVDMY Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.1x
Price/Book 0.3x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.1x
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