Southern Alliance Mining has guided for a gross loss for 1HFY2025 ended Jan 31, 2025, compared to a gross profit reported in the same period a year ago.
The group is also expecting to report a higher net loss for 1HFY2025, mainly due to a decrease in average realised selling price for iron ore concentrate, crushed iron or iron ore tailing for the reporting period, which was influenced by the slowdown in demand from China’s steel industry.
The group expects to announce its results by March 17, 2025.
Shares in Southern Alliance Mining closed 7.5 cents higher or 18.293% up at 48.5 cents on March 10
