China Nonferrous Gold Share Discussion Threads

[charles clore] 09/12/2015 11:12

The director disposal is not good news at a time when the mine is supposedly almost on line a director sells over 25% of his stake! Why not wait a few months and reap the benefits of being a producer? Hmm

[rockybalboa] 02/12/2015 13:00

IMO this company lost transparency and integrity when Craig Brown resigned as Director.

[shezza1] 29/11/2015 17:08

Well thats the question. There has been no news that the smelting plant was commissioned in October, as detailed in the RNS of 1st October.

I might try giving David Tang a poke and see when we are expecting an update. Whats Craig Browns association with this company nowadays? I saw him 6 months ago and he seems to be still involved, whether thats as a consultant or executive I don't know.

[charles clore] 29/11/2015 15:26

shezza - I agree it is looking quite good at the moment. So what is holding up that progress report?

[shezza1] 29/11/2015 15:07

Hoping we might get some news this year. The trial has been going for 2 months now and the weather in Tajikistan still looks pretty good at the moment

[charles clore] 29/11/2015 12:25

I doubt we will hear anything much now as winter sets in early over there.

[shezza1] 28/11/2015 19:25

Missed the October update. So the trial did start in October but no news flow yet. Any one heard when we are expecting some news on the trial.

[shezza1] 28/11/2015 18:42

Anyone heard any news on the trial. They had a stock pile of over 90,000 tons back in June and were aiming at 2000 tonnes per day from October.

Not heard of any delays but thought we should have got a trial commencement RNS.

[charles clore] 20/11/2015 14:52

novice - HUM is fully funded to production by Taurus Mining to the tune of $85m debt funded draw down facility with achievable (provided they start producing next year at the stated rate of 100koz p.a.) built-in repayment dates which should mean no dilution. They also have an agreement in place with the Liberian government stating 3% royalty and 25% corporation tax with generous start up allowance so the risk has been addressed as best as they can. I view CNG as higher risk because of a history of failed deadlines and the majority shareholders being Chinese which leaves us to some extent in unknown territory. Their saving grace is that low AISC!

p.s. I'm not trying to sell (or promote) HUM as I would like the price lower for obvious reasons. But I am just using it as an example to demonstrate why I think CNG is too expensive atm.

[novicetrade68] 20/11/2015 13:50

Ah yes, HUM ! They are indeed very cheap and they're on my watch list. But they're still in the construction phase and I personally don't like the countries they operate in esp Mali. However, at the right price I would certainly buy. Perhaps now is the time to buy, but would be nice to see more volume.

Short term CNG could certainly fall further, we're approaching our 4 month winter break too, so anything could happen, but if this were to go back to the 15p area
I would certainly add more here too.

[charles clore] 20/11/2015 13:35

novice - if you look at other comparable near-producers, HUM for example although their mine will be open pit and AISC 733/oz, their MC is almost a quarter of CNG's. All have suffered of late with the demise of precious metals but it occurred to me also that CNG don't seem very good at keeping to schedule and with the director selling I do think they are a bit overpriced at the moment.

I originally bought at 9p but have sold at c.27p. I would only buy again at a much lower price in today's climate. But having said that, fortunes can turn around in the blink of an eye!

[novicetrade68] 20/11/2015 13:07

Well, I don't know Charles, you could be right, but isn't CNG supposed to become quite a low cost producer in the region of $400-$500/oz. Their resource as you know is also quite big and I was left with the impression the intended production is to be in the six digits annually.

From their last update they said they'd be trialing their smelter in October, but we haven't received a confirmation of that, so I agree there is some uncertainty and who knows what the current state of play is.

In that respect, I agree these 'Director Dealings' aka sales do not really help inspiring confidence that CNG is on the verge of (trial) production, but still think in the long run and 'assuming they deliver' a MCAP much higher than £78m would seem appropriate ?

[charles clore] 20/11/2015 11:58

Sorry to say this but £78m market cap still looks too high for a small non-producer in today's precious metals climate.

[charles clore] 19/11/2015 17:22

Looks like it might be back to 15p again. Similar huge market cap reductions are happening all over - aspiring producers and big boys alike. I consider it an opportunity.

[c9ajl] 16/10/2015 17:08

You might be right ?

[eke] 16/10/2015 13:12

Happy Friday!
It's been a good week for us long termers.
I wasn't expecting such a dramatic bounce.
Any guessed on a price it will stabilize?
I'm going for 34p.

[c9ajl] 16/10/2015 09:04

It doesn't take much volume to move this share price up or down. Nice to see it going up again

[abacus23] 16/10/2015 07:37

eke,

Nice to see it bounce, still a long way to go.

Mining is unpredictable, but surely we must see more gains going into production.

[eke] 15/10/2015 23:27

Very quite on this board!
Anyone else relieved to see this
Bounce?
Production news on the way and a rising gold
Price perfect!

[charles clore] 29/9/2015 09:24

abacus - how many near producers in today's climate do you know of with with mine startup finance hanging over their head and a £57m market cap? If gold was $1500-2000/oz I am sure the picture would look a lot different but it is struggling to stay above $1100. Until production is running successfully we are lucky to be at this price imho.

[abacus23] 29/9/2015 07:51

If we are so close to production and funded, why are we at 15p?

[c9ajl] 29/9/2015 07:28

China Nonferrous Gold Limited??????????(?CNG? or the ?Company?)Interim Results for the Six-Month Period Ended 30 June 2015China Nonferrous Gold Limited (AIM:CNG), the mineral exploration and development company currently developing the Pakrut Gold Project (?the Pakrut Project?) in the Republic of Tajikistan, today announces its interim results for the six-month period ended 30 June 2015.The results below are available on the Company's website at www.cnfgold.com.HighlightsFurther progress towards bringing the Pakrut Project into production:The construction of main decline at the mine has been completed;West ventilation access decline has been completed;Ore extraction ramps and cuttings at 2110, 2170, 2292 and 2230 levels have reached 6,914 metres and the connection ramp between 2170 and 2350 levels has been completed reaching 1,633 metres;29,395 tons of ore has been mined at 2292 level and more than 90,000 tonnes of ore sits in the ore stock pile;More than 95% of the construction for the Pakrut concentration plant is complete;More than 90% of the construction for the smelting plant has been completed;Most of the equipment for the two plants has been installed and tested;Trial production in Phase 1 at the rate of 2,000 tonnes per day is expected to commence in October 2015.Construction of associated mine infrastructure progressing to plan:The external power supply project is complete and power from the National Grid has been supplied to site.

[abacus23] 07/9/2015 10:03

Will they release news as and when to prop the share price up?

[legg96] 03/9/2015 20:05

Yes, 23000 shares traded today for a value of £3,200.