The board of CITIC Resources Holdings Ltd. has announced that, based on a preliminary assessment of the latest management accounts of the Group, the company is expecting to record an unaudited consolidated profit attributable to Shareholders for the six months ended 30 June 2016, as compared to the unaudited consolidated loss attributable to Shareholders recorded for the six months ended 30 June 2015. The expected consolidated net profit for the period is primarily attributable to the following factors: a pre-tax fair value gain will be recorded for the Period in respect of the Group's interest in Alumina Limited (AWC), as compared to a pre-tax fair value loss for the Corresponding Period. AWC is listed on the Australian Securities Exchange and the Group currently owns 9.6846% of the shares of AWC. For the purposes of the Group's financial reporting, the Group's interest in AWC shares is measured at its fair value based on the closing price of AWC shares at the end of each reporting period and any difference between the fair value and the carrying value is recognised in the Group's consolidated income statement. As at the end of the Period, the closing price of AWC shares was AUD 1.295 per AWC share (31 December 2015: AUD 1.155 per AWC share); and a share of profit is expected to be recorded for the Period with respect to the Group's interest in CITIC Canada Energy Limited (CCEL), as compared to a share of loss recorded for the Corresponding Period. CCEL, a joint venture 50% owned by the Group, is the holding company of JSC Karazhanbasmunai which holds the right to explore, develop, produce and sell oil from the Karazhanbas oilfield in Kazakhstan.