Last 31.25 GBp
Change Today 0.00 / 0.00%
Volume 45.0K
As of 3:39 AM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

sierra rutile ltd (SRX) Snapshot

31.25 GBp
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31.25 GBp
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31.25 GBp
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11/19/13 - 72.50 GBp
52 Week Low
09/19/14 - 31.25 GBp
Market Cap
Average Volume 10 Days
0.0040 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for SIERRA RUTILE LTD (SRX)

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sierra rutile ltd (SRX) Details

Sierra Rutile Limited, a mineral sands company, is engaged in exploring for, producing, and marketing industrial minerals in Sierra Leone. It is involved in the extraction, concentration, separation, and sale of rutile primarily for use in the manufacture of white pigment for paint, plastics, and paper industries; and by-products, including ilmenite for use as a lower-grade pigment feedstock, and zircon for use in the ceramics industry, as well as other concentrates sands. The company owns interests in the Sierra Rutile mine that consists of 19 rutile deposits covering an area of 560 square kilometers located near the Imperri Hills, south west of Sierra Leone. It is also engaged in producing oil palm, cacao, rubber, and pineapple. The company was formerly known as Titanium Resources Group Ltd and changed its name to Sierra Rutile Limited in February 2011. Sierra Rutile Limited is headquartered in Freetown, Sierra Leone.

1,500 Employees
Last Reported Date: 03/28/14

sierra rutile ltd (SRX) Top Compensated Officers

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Executives, Board Directors

sierra rutile ltd (SRX) Key Developments

Sierra Rutile Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Sierra Rutile Limited reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company's revenue was $64.05 million compared to $66.37 million a year ago. Loss before taxation was $3.81 million compared to profit before taxation of $3.76 million a year ago. Loss attributable to owners of the Company was $4.13 million or $0.008 per diluted share compared to profit attributable to owners of the Company of $3.43 million or $0.007 per diluted share a year ago. Net cash inflow from operating activities was $1.614 million compared to $23.911 million a year ago. Purchase of property, plant and equipment was $6.81 million compared to $18.48 million a year ago. Purchase of biological assets was $1.58 million. Purchase of intangible assets was $0.151 million compared to $0.161 million a year ago. EBITDA was $8.7 million compared to $13.5 million a year ago. The major contributor to the decrease in revenue in first half 2014 over first half 2013 was the weaker pricing obtained with an average realised price for rutile in first half 2014 of $855/tonne, partially offset by a 34% increase in sales volumes to 71,565 tonnes.

Sierra Rutile Limited Reports Operating and Sales Results for the Second Quarter of 2014; Provides Production Guidance for the Second Half of 2014

Sierra Rutile Limited reported operating and sales results for the second quarter of 2014. For the quarter, the company reported production of 27,842 tonnes of rutile in, a 3% increase on the second quarter of 2013 production; and 8,410 tonnes of ilmenite, a 12% decrease on the second quarter of 2013 production. During the quarter, rutile production sourced from tailings was lower than planned due to higher than expected non-valuable heavy minerals in the tailings concentrate. This resulted in a modest underperformance against planned rutile volumes in first half of 2014. Sales in the second quarter of 2014 were ahead of production volumes resulting in a reduction in inventory levels. Production for the second half of 2014 is expected to be higher than first half of 2014, as mining operations transition to higher grade zones, concentrate blend ratios are optimised and recoveries improve following the completion of the planned upgrade of the mineral separation plant, and the company expects to meet full-year forecasts.

Sierra Rutile Limited Announces Executive Changes, Effective from 1 July 2014

The board of Sierra Rutile Limited announced the appointment of Michael Barton as Non-Executive Director and Chairman with effect from the close of Sierra Rutile's 2014 annual general meeting to be held on 1 July 2014 at 3pm. Mr. Barton is a former director of Sierra Rutile and has worked closely with the management of the company since 2010. Jan Castro, Sierra Rutile's Chairman since 2010, will step down as Non-Executive Director and Chairman effective 1 July 2014.


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