CNMC Gold Mining

throwing off steady dividends now but yield is only a measly 2.7% annualized. Unfortunately for a profitable GOLD MINING company this is just not good enough. Maybe when 10cents price can buy some.

Speculative counter it will remain unless someone makes effort to go malaysia and take a look directly at their operations with a mining expert to see if they are really getting the gold out the ground or not....

unless they raise the dividend payout yoy which I am betting on. hopefully this will come true hehe.

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Results just out.

http://infopub.sgx.com/FileOpen/2015-4Q%...eID=390587

Looks like slight revenue dip, rise in net asset value, decline in average realised gold price offset by increase in gold volume.

About S$31 mil worth of cash as at 31 Dec 2015. Hopefully, they do a dividend - or share buyback.
30 Sept 2015: S$25.8 mil (+S$2.9 mil)
30 June 2015: S$22.9 mil (+S$3.6 mil)
31 Mar 2015: S$19.3 mil (+S$1.9 mil)
31 Dec 2014: S$17.4 mil (+S$3.9 mil)
30 Sept 2014: S$13.3 mil

Today CNMC reported FY 2015 results.

What matters for me:

Free Cashflow: ~22m SGD (16m USD)
Marketcap: 88m SGD
Cash: 31m SGD (22m SGD)
And so:
FCF/MV = 25%
EV=88m-31m=57m
FCF/EV = 38%

Gold prices currently quite a bit higher than 2015 average.

vested

@Frus,
Small comment: You need to adjust the EV by +6.4 for the minority interest. Eq value + Net debt + MI = EV

In agreement with your views on merits.

ok, good point, thanks!

50-day SMA crossing over 200-day SMA for gold prices.
   

CNMC's Gold Resources Up 22% In 2015 Even As Production Reaches Record High
 New findings reveal notable increase in gold, silver, lead and zinc resources  Results reaffirm CNMC’s ability to replenish depleted resources
SINGAPORE, 31 MARCH 2016 – CNMC Goldmine Holdings (“CNMC” or the “Company” and together with its subsidiaries, the “Group”), which produced a record amount of gold last year, said today its ongoing exploration activities have yet again yielded positive results, reaffirming its ability to replenish depleted resources and paving the way for it to continue increasing output.
In the latest Qualified Persons’ Report for the full year ended 31 December 2015 (“2015 QPR”) prepared by Australia-based Optiro Pty Ltd (“Optiro”), the Group’s third party independent resource and reserve estimation consultant, it was noted that the total inferred, indicated and measured gold resources at its Sokor project in Malaysia’s Kelantan state amounted to 13.83 million tonnes at 1.4 grams per tonne gold grade as at 31 December 2015.
This translates into approximately 618,000 ounces of gold in the ground and marks a 22% increase in resources compared to Optiro’s previous estimate as at 31 December 2014.

+18% today on 16x average volume, finally, it's moving! Last 9 months look like a "cup and handle" to me

(26-05-2014, 12:15 PM)BlueKelah Wrote: A few things i would have questions about this company :

1)Sounds funny that at this day and age someone would go into gold mining without getting experts in right from the start. When they first started prospecting they got the Aussie perth company to do the initial prospecting. so why not get further advice from the experts in australia when they first started extraction to maximize profits? Isn't that what a normal business manager would do? and the quarterly report says they expect 1 million tonnes of gold capacity by year end, where will that gold be coming from, recycled ore?

2) annual report says minimal environmental impact on the sokor river as reported by an independent 3rd party malaysian firm. sounds fishy, why? unless the river is already polluted heavily, it is unlikely silting from mines have minimal impact on the fresh water fish as clear water in streams is critical for egg laying and hatching. and i have gone to the forest rivers in west malaysian rainforest to do fish studies. even simple logging causes very bad erosion and wipes out a lot of bigger fish species.

3) in the latest quarterly report they included a lot of technical info on the drilling which is the first report i have read with so much technical stuff. Are they trying to confuse shareholders?

4) why are they trying to diversify into other metals? Should they not have included the testing for all these other metals in their initial survey and decided on what to mine? from what i know some ores need to be dry mined, not wet mined like gold and tin.

Valuation wise this company could only be valued on cashflow and earnings basis as NAV is way below the current price.  



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Still valid!