Sarine responses to a query from SGX-ST

Sarine Technologies Ltd wishes to respond to the following queries raised by the Singapore Exchange Securities Trading Limited (SGX-ST) on 27 February 2020, with reference to the Company’s unaudited results for the calendar year ended 31 December 2019 as follows:

SGX's Query:

We would appreciate it if you can address the following queries in a clarification announcement via SGXNet by Tuesday, 3 March 2020. In your announcement, please disclose our questions and your corresponding answers to enable investors to understand the matters raised by the Exchange. If our queries have been addressed previously,

Which jewels will we wear in Summer 2020?

Shapes, colors, materials: a triumph of panache and fun for the world of accessories and jewelry in the summer of 2020. Many trends: we start with the chain for glasses, a great return, which Stella McCartney proposes cheeky and playful, as a useful and at the same time fashionable jewel-accessory.

Then there are the torque, chains, jewel and very ancient ornament particularly loved for their ancestral dimension: the stylists offer them transparent (like Salvatore Ferragamo), or rich in pearls, gems (Chanel), while the jewel coordinated to make up, as suggested on the catwalk by Valentino and Area, playing on combinations of colors and decorations, to cover the face with precious makeup.

2020 fashion jewels conquer Haute Couture

Protagonists of the Paris catwalks, the Haute Couture 2020 fashion jewels conquer in combination with tailored creations, bags and hair accessories that point to next summer with style and charm.

Among these, the maxi earrings stand out - the real protagonists of the prosism in summer, precious and not - signed by Valentino: a dream between giant crystals and peacock blue, red, fuchsia and light blue feathers. Colors also for the long silk fringes that decorate the tribal style earring (also this maxi) seen on the Givenchy catwalk, while Armani proposed maxi earrings in colored plexi and in a circle, in combination with his clothes from the Privè line.

Russia in lifting CAR diamond exports ban

Russia, as this year’s chair of an international body tackling the trade in conflict diamonds, will work to lift restrictions on the export of diamonds from the Central African Republic (CAR), deputy finance minister Alexei Moiseev said. A total ban on diamond exports from CAR was imposed in 2013 but partially lifted in 2016, allowing CAR to resume sales of diamonds from five “green zones” where the government could certify the stones were conflict-free.

As the 2020 chair of the Kimberley Process, an 81-nation body that certifies ethical diamond exports, Russia will focus on helping the CAR government to improve its regulation of local diamond production with the aim of re-entering the export market, Moiseev said. The Kimberley Process group defines conflict diamonds as those whose sales fund armed groups, but a project to broaden the definition is currently underway.

YoY GST collection Up in February

The gross GST revenue collected in the month of February, 2020 is Rs1,05,366crore of which CGST is Rs 20,569crore, SGST is Rs 27,348crore, IGST is Rs 48,503crore (including Rs 20,745crore collected on imports) and Cess is Rs 8,947 crore (including Rs 1,040crore collected on imports). The total number of GSTR 3B Returns filed for the month of January up to 29th February, 2020 is 83.53lakh.

The government has settled Rs 22,586 crore to CGST and Rs 16,553 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of February, 2020 is Rs 43,155 crore for CGST and Rs 43,901 crore for the SGST.

Needed Efficient Banking for Growth India

Public Sector Banks (PSBs) with about 70 per cent of the market share in Indian Banking have an onus of supporting the Indian economy and fostering its economic development. The Economic Survey 2019-20, tabled by the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, in Parliament today, observes that there is disproportionate dwarfism of the Indian banks when compared to the size of the Indian economy.

For India to march in its goal of becoming a $5trillion economy, PSBs – the dominant banks in our banking system – need to become efficient. The economy needs PSBs to perform to their fullest potential and support economic growth rather than pullback lending, which has a detrimental effect on growth and welfare.

New Discovery at Eldorado Gold

Eldorado Gold Corporation announces the discovery of a new high-grade gold mineralization zone at its Lamaque Operations near Val d’Or, Quebec. This discovery, called the Ormaque Zone, is located in a previously undrilled area approximately midway between the historically mined Sigma Deposit and the actively mined Triangle Deposit, in close proximity to the proposed transportation decline linking the Triangle underground mine and the Sigma Mill, all included in the growing Lamaque Operations.

Gogold production over 555K oz

Gogold Resources announces the release of financial results for the quarter ending December 31, 2019 with revenue of US$9.3 million from the sale of 555,298 silver equivalent ounces and net income of $535,000. Parral generated $2.3 million of cash flow at site, and the company after general and administrative and working capital changes generated $789,000 from operations. 

Parral had another record production quarter and compared to a year ago revenue has more than doubled, driving the turnaround in cash flow from operations, brad langille, president and CEO stated.  With commissioning on the sart underway, we expect to soon realize the benefits of this optimization to parral’s profitability.

Element Six satisfied over patent infringement

Element Six today expressed satisfaction at the successful conclusion of its patent infringement action against IIa Technologies in Singapore. IIa Technologies was found by The High Court of Singapore to have infringed an Element Six patent for proprietary synthetic diamond products and their method of manufacture (Singapore patent number 115872).

The patent in question relates to the production of material which is desirable both for use in laboratory-grown diamond jewellery, and in optical applications such as infrared spectroscopy and high-power laser optics.

Anglo American annual results 2019 announced!

Chris Griffith, CEO of Anglo American Platinum, commented: “For the first time in Anglo American Platinum’s history, we have had no workplace fatalities at our managed operations in the year. Our intense focus on eliminating fatalities is yielding positive results and, while we are proud of this milestone, we also need to eliminate injuries and extend our focus to our non-AAP managed Joint Venture operations.

We are deeply saddened to have lost one of our colleagues, Mr Thomas Maluleke, at our independently managed Modikwa JV operation. We express our deepest condolences to his family, friends and colleagues.”