L'sea Resources International Holdings Limited provided earnings guidance for the six months ended June 30, 2016. For the period, the Group is expected to record a net profit for the six months ended 30 June 2016 primarily attributable to a possible reversal of impairment loss on the asset value of the tin mine held by the Group located in Tasmania, Australia based on the preliminary valuation of the tin mine as at 30 June 2016. The possible reversal of impairment loss was mainly due to the increase of tin prices in the international market during the period, which led to the recoverable amount of the asset value of the tin mine exceeding its carrying amount as at 30 June 2016. The Group is also expected to record an increase in gross loss for the six months ended 30 June 2016 primarily attributable to decrease in revenue which was mainly due to decrease in production volume and increase in cost of sales which was mainly due to increase in depreciation cost for the newly purchased assets used in the mine. The possible reversal of impairment loss is therefore partly offset by expected increase in gross loss.