Agreed ....it will be going to main board soon.

I was watching and thinking that the 0.015 support will be broken.....but then the buy queue was replenished by 50,000 000 shares.  

There goes my chance to buy cheap at 0.01

Hulumas      ( Date: 24-Nov-2010 14:30) Posted: Now it is about my time to jump into! My prediction . . . . . it won't be long (<06 months), price will be adjusted much much higher. So worth buying at Sgd. 0.01 I suppose. Isolator      ( Date: 27-Sep-2010 17:50) Posted: My feeling tell me to buy some for mid to long term using spare fund... HLH and Sapphire in my tiny penny list now...

This time round we are acually seeing profit coming from Special Steel and its associate rather than a one time affair from listing.  Even though Special steel did not report any HRC sales from July to Sep due to testing of new production line, revenue is still up....so expect full year profit to be much higher.

In this bull run, pennies like Sapphire(with proven track record) are set to shine.  It is strategically positioned in Sichuan PRC to tap into China's stellar growth especially iron, steel and vanadium.

Sapphire Reports 9M2010 NPAT of S$88.4 Million on Contributions from Special Steel and Fair-Value Gain of HKSE-listed mine operator

• New business activity – Processing of steel billets to Rebars to contribute to financial performance

• Expects to further raise production capabilities of its steel and steel-related operating subsidiaries and capitalize on its existing success to develop new business inroads within the PRC steel industry

Sapphire said its net profit attributable to equity holders for the January-September (“9M2010”) period soared to S$88.4 million from S$3.6 million for 9M2009, lifted by higher contributions from its steel subsidiary and a fair-value gain on a 9.2%-owned mine operator listed in Hong Kong.

The higher profit was achieved on the back of a 27.6% increase in revenue to S$71.1 million for 9M2010 from S$55.8 million for 9M2009, largely contributed by the sales from Nejiang Chuanwei Special Steel Co., Ltd (“Special Steel”), a 70%-owned subsidiary of Sapphire. For 9M2010, Sapphire consolidated the full nine months of revenue from Special Steel compared to four months in 9M2009.

The Group’s 9M2010 bottom-line included a S$113.7 million initial recognition of availablefor- sale financial assets in respect of its 9.2% stake in China Vanadium Titano-Magnetite Mining Company Limited (“China VTM”) which was listed on Mainboard of The Stock Exchange of Hong Kong Limited.

Sapphire recognized an impairment loss of S$30.7 million – triggered by the decline in market price of China VTM – which was offset by a write-back of S$17.3 million – recognized as Other Comprehensive Income – when the share price recovered to HK$3.59 as at 30 September 2010.

In recent months, Special Steel has focused its efforts on setting up the production line for rebars. Due to the testing of the new line, Special Steel did not record any hot-rolled coil (“HRC”) sales during the July-September period (“3Q2010”), resulting in revenue for the quarter falling to S$22.1 million from S$43.4 million a year earlier. Consequently, net profit attributable to shareholders for 3Q2010 declined to S$3.1 million from S$4.6 million in 3Q2009.

Fully diluted earnings per share on a weighted average number of shares rose to 0.55 Singapore cent for 9M2010 compared to 0.06 cent in 9M2009. Net asset value per ordinary share rose to 1.61 cents compared to 0.94 cent for 9M2009.

Sapphire’s Chief Executive Officer, Mr. Teo Cheng Kwee, said, “Special Steel continues to contribute positively to both the Group’s top- and bottom-line performance, which represents the success of our strategy to focus on the PRC steel industry. Our performance continues to be underpinned by steady demand and prices of vanadium.

“At the same time, while near-term market conditions have impacted demand for HRC, the Group has strategically re-directed its resources to the production of rebars, the demand for which remains steady. We remain confident about the long-term prospect of the steel industry,” he added.

In 2Q2010, the Group entered into a cooperative agreement with Weiyuan Steel Co., Ltd – an associated company – for the processing of steel billets to rebars. The Group has since commenced production at its facility, processing approximately 118,000 tons of rebars in 3Q2010.

Shd be around 12 Nov.....if it don't move , then give it a light push .......haaa

If a company is doing well, the share price will ultimately take care of itself.

Q3 results should be around Nov...... It will be interesting to see the profit margin

A volcano waiting to erupt...