CNMC Gold Mining

[lkw175]

Why is the state government reviewing the company's application now? The company already granted licence to mine... is this licence equivalent to a "Large Scale Operation status"? Quite confused.....

[Life is a game]

yup no further details revealed. I think will have to wait for the company announcement on this in their next quarterly report.

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[lkw175]

HY results will be announced in early august....

from now till results announcement.... have to keep fingers crossed....

[desmondxyz]

Mr.Market gave a thump down to the review....possible the license get revoked?

The stop-work order sounds fishy....

http://infopub.sgx.com/FileOpen/CNMC%20s...eID=413665

[brattzz]

everything that is STOP-WORK to any operation is a costly one...

Wait and see the story unfolds?

[Life is a game]

since it is a large scale operation which involves unlimited mining of ore, the mining activities will be very damaging to the environment. since the land belongs to the government, imo they need to temporary stop work and seek further permission which seems more logical in this situation.

I'm increasing stake in this sell down which could turn out bad as well. but I'm thinking if the unlimited mining can be approved, the revenue will be significantly higher in near future.

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[BlueKelah]

haha more likely is the malaysia gov wants to take over lah. Create problem for CNMC then chase them out. After a while, approve for their own local company to mine loh. 

Not the first time a highly profitable business is swallowed by local.

@ life is a game : if you are buying more and significant amount perhaps its better to check with management what this thing is really about. If they applied for unlimited mining does this mean the previous licence was only for mineral exploration? Or was there a limit cap in the previous agreement? It is very likely if they cease for long enough, the share price could hit back sub 20c level. 

review should not require complete operation stop if the current operation is within limits of current licence agreement, unless there is already severe environmental impact happening, like the pollution of the rivers etc impacting water supply. If this is regular practice, management perhaps should have beforehand issued statement warning of operation stop to shareholders when they submitted the application for unlimited mining rights.

THis has probably not happened but its a key risk for any gold mining sort of operation.

https://en.wikipedia.org/wiki/2015_Gold_...ater_spill

CNMC jialat liao lah [emoji14]

[desmondxyz]

since it is a large scale operation which involves unlimited mining of ore, the mining activities will be very damaging to the environment. since the land belongs to the government, imo they need to temporary stop work and seek further permission which seems more logical in this situation.

I'm increasing stake in this sell down which could turn out bad as well. but I'm thinking if the unlimited mining can be approved, the revenue will be significantly higher in near future.

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STOP-WORK doesnt sound logical to me.... CNMC should be allowed to carry on their mining work which already been approved on current license. Whether or not the new application granted, it shouldn't affect current license.

[Life is a game]

dear buddies especially Blue Bro. thanks for the highlight. I shall keep monitoring this counter for updates. cheers and happy Friday everyone [WHITE SMILING FACE]

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[BlueKelah]

No problem, just my usual comments on risk. I only expected a downside if gold price started dipping.

This is really unexpected, only expected stop work if there was a flood or dam disaster like the BHP one in Brazil.

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