Last week, British Virgin Islands-registered and China-based company China Natural Resources, Inc. released unaudited interim financial results for the three and six month period ended June 30, 2011. For the three month period, company’s net sales were US$9,56 million, and gross profit was US$3,39 million. Average number of outstanding shares, both basic and diluted, was 22,748,141. In the three months ended June 30, 2011, the BVI company reported net loss in the amount of US$1,09 million.
The Chairman and CEO of the BVI company Mr. Feilie Li said in his comments on the 2011 interim results: “In view of the continuing economic growth in the PRC, we believe that demand for coal will continue to be robust in the foreseeable future. We are positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.”