The board of directors of Honbridge Holdings Limited announced to the shareholders of the Company and potential investors that, based on the currently available information which includes, but without limitation to, the unaudited management accounts of the Group, the Group is expected to record a significant profit for the six months ended 30 June 2016 as compared to a loss for the six months ended 30 June 2015. The significant profit was mainly attributable to the decrease in the fair value of contingent consideration payable to Votorantim S.A. the vendor of Sul Americana de Metais S.A. (SAM). The fair value gain was partially set-off by the impairment loss on exploration and evaluation assets recognised during the six months ended 30 June 2016.