[For Immediate Release] Kinetic Mines Issued a Positive Profit Alert
(17 June 2014, Hong Kong) Kinetic Mines and Energy Limited ("Kinetic Mines" or the "Group"; stock code: 1277), a coal mining player primarily operating the Dafanpu Coal Mine in Zhunge'er Banner, Erdos City, Inner Mongolia in China, issued a positive profit alert, stating that the Group is expected to record a consolidated net profit for the five months ended 31 May 2014 as compared to a consolidated net loss for the corresponding period in 2013, which is mainly due to, among others, the significant increase in the Group's coal production volume, sales volume and turnover.
Moreover, based on the internal information of the Group, the Group's coal production volume and sales volume for the five months ended 31 May 2014 has exceeded the coal production volume and sales volume for the year ended 31 December 2013.
This information is based only on the preliminary assessment by the Board of Director of the Company upon its review of the unaudited management accounts of the Group for the five months ended 31 May 2014 and other information currently available to the Company which has not been reviewed or audited by the Company's independent auditor.
- End - About Kinetic Mines and Energy Limited
Kinetic Mines currently operates Dafanpu Coal Mine located in Zhunge'er Banner, Erdos City, Inner Mongolia, China. It strives to become a leading privately-owned integrated coal provider in China with mining, processing and trading capabilities, contribute to China's energy development and firmly grasp the enormous development potentials in China's growing energy market. For further information, please contact: iPR Ogilvy & Mather
Natalie Tam / Gary Li / Peter Chan
Tel: (852) 2136 6182/ 3170 6753 / 2136 6955
Fax: (852) 3170 6606