Announcement will be positive for investors, as the diversification will help balance the risks of gold mining. The gold price has fallen and it's weighing on the stock price of CNMC.
The first year will not see any meaningful $ contribution to CNMC's P&L, I guess. The catalysts for the share price will come from discoveries and plans to extract tin.
Quigg:
Well, I think that there is again, a lot of factors that people can’t quite put their hands on. And again, the biggest factor probably is the uncertainty in the market place. We think there has been resolution to the debt ceiling; we think there are a lot of things that will
become resolved.
But unfortunately, uncertainty tends to rear its head when you least expect it. And that again is an environment in
which gold has traditionally done well and, put it another way, as you’ve noted this year, the equity markets are up over 25%, gold is down over 30% compared to its high. Which seems like a relatively better buy right now?
(Kevin Quigg, Global Head of ETF Sales Strategy, State Street Bank & Trust)
Highlights:
First gold mining company on the Catalist board of SGX-ST to pay out dividend
Sokor Gold Project is expected to continue to create strong cash flow for the Group in the next 12 months supported by the increase in leaching capacity and implementation of cost optimization programs
CNMC believes in equal priorities on rewarding shareholders and pursuing growth opportunities
Positive outlook expected in the coming 12 months for Sokor Gold Project
Anyone looking at wilton resources (aka hartawan) which is also a gold mining company? Is it bigger than cnmc in terms of measure resources and probable resources?
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