Adamas Finance has recently seen its shares soar into 2020 as the company updated the markets on its current investment portfolio. Future Metal Holdings Limited (“Future Metal”) formerly known as Hong Kong Mining Holdings, the company has commissioned its quarry processing plant, ramping up its production.
By mid-next year, the management team expects daily production capacity to reach around 2,000 Tonnes due to increased operational efficiency to be extracted from the current configuration of equipment onsite. The actual level of output will be configured based on contracts for sale of product which management will look to secure in the 1st half of 2020.
Based on the successful initial production run, the Company is constructing a steel structure to enclose its stockpile site, installing dust removal equipment and commencing the process of land hardening to comply with the local environmental requirements. These initiatives remain on plan for delivery after the initial production run and ramping up of daily production.
John Croft, Chairman of Adamas Finance Asia Limited, commented:
“We are pleased to have commenced production at the quarry and begun initial sales of Future Metal’s products before the year-end as planned. Full production is continuing to ramp up well with strengthening levels of interest from potential buyers of the quarry’s products with prices in line with previous guidance given by the Company. We look forward to updating shareholders in Q1 2020 as production ramps up and further sales contracts are agreed.”
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The author was remunerated but does not hold shares in the company