L'sea Resources International Holdings Limited provided preliminary consolidated earnings guidance for the year ending December 31, 2016. For the period, the Group is expected to record a net profit as compared to the net loss recorded for the corresponding period in 2015 primarily attributable to an expected record of gross profit for the year ended December 31, 2016 as compared to the gross loss recorded for the corresponding period in 2015 and 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 December 31, 2016. The turn from gross loss to gross profit and the possible reversal of impairment loss were 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 December 31, 2016.