Century Global Commodities reveals impressive year-end results in challenging market
July 07, 2023 at 03:39 pm
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Century Global Commodities CEO Sandy Chim joined Proactive's Natalie Stoberman to share the company's financial year-end results ending on March 31, 2023. Chim says the company has made significant progress in its main business of iron ore development in Canada, particularly at its flagship Joyce Lake project.
Chim explains the project has undergone a comprehensive feasibility study, reflecting cost inflation and new operational designs. Additionally, Chim says the company has achieved key environmental milestones, including compliance with federal guidelines and a positive review by the Canadian agency.
On its Century Food business front, Chim adds that Century Global Commodities has experienced impressive growth in its food distribution unit in Hong Kong, with a 30 percent increase in top-line sales. According to Chim, this new business unit has provided valuable cash flow to support the company's resource development projects, allowing them to progress to the definitive feasibility study stage.
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Century Global Commodities Corporation is a Hong-Kong based exploration and development company. The Company holds interest in various iron exploration properties. The Company's iron exploration properties are located in Quebec, Newfoundland and Labrador. The Company's portfolio projects include Attikamagen JV Properties, Sunny Lake JV properties and Duncan Lake JV Magnetite Project. The Company holds 60% interest in Attikamagen JV Properties. The Attikamagen JV properties include the Joyce Lake DSO Project and Hayot Lake Deposit. The Hayot Lake Deposit hosts taconite resource. The Company holds interest in Sunny Lake JV Properties. The Sunny Lake JV properties include the Full Moon Project, which is a taconite deposit and Blackbird DSO Deposit, which has a National Instrument (NI)-43-101 mineral resource estimate. The Company also holds 65% interest in Duncan Lake JV Magnetite Project.