China Nonferrous Gold Investors - CNG

China Nonferrous Gold Investors - CNG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
China Nonferrous Gold Limited CNG London Ordinary Share KYG215771042 ORD USD0.0001 (DI)
  Price Change Price Change % Stock Price Last Trade
-0.625 -6.1% 9.625 16:35:14
Open Price Low Price High Price Close Price Previous Close
9.625 10.25
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Industry Sector

Top Investor Posts

hari: Hi Matt, I am still neutral at these levels. Recent Gold price has been great for the Co. But I still do not know after interest payments, how much dent can be made to reduce the debt if at all. I am 100% sure the debt will continue to hold back the share price. I am really surprised , as a very astute and intelligent investor that you are, that you discount that in your valuations.( mean that sincerely) Also Gold seems to be under pressure after the US election. Not sure which way it will go or whether it can hold these higher levels.
mattjos: so far off 99.9% of investors radars. No problem with that at this stage. Stock was freely available at under thruppence Jun 19 and i filled my boots then .. have no problem paying up 3x that now, given the tremendous progress at Pakrut in just 16 months
novicetrade68: China business briefing: Whose Belt and Road is it anyway? Darvoz, in Tajikistan, is a province of dusky canyons and snowy peaks, villages perched across the river from Afghanistan. Terraces turn brilliant shades of green in summer with water channeled from above. Far from Dushanbe in hours and attitudes, Darvoz is crossed by roads of varying quality where trucks rumble through to and from China. Readers of official Chinese news now know Darvoz as an economic miracle that, thanks to Chinese technology and Beijing’s Belt and Road Initiative, promises Tajikistan a prosperous future. Or so says a long-time Tajik envoy to Beijing given a platform in the Communist Party of China’s mouthpiece. Rashid Alimov’s effervescent August 21 op-ed in People’s Daily describes a vision of the future – a future that the Belt and Road has brought to Tajikistan: the Darvoz Industrial and Innovative Technological Park. Darvoz, the former Tajik foreign minister writes, is a key node on the “China-Tajikistan friendship highway.” With the “most advanced automation equipment made in China,” the Darvoz park can produce drinking water and honey for export, limestone for the Tajik cement market, and tomatoes year-round. And the timing couldn’t be better. Chinese machines can yield 10 tons of disinfectant a day and 2,000 pieces of PPE per hour. Unusually, no Chinese companies are taking credit for the project. That lends support to the local chatter: that it is being funded by Talco, Tajikistan’s largest factory, an aluminum smelter that appears to enrich the president’s family. Indeed, a man strongly resembling the elusive Talco director, Sherali Kabirov, appears in photos with President Emomali Rahmon at the facility’s grand opening on August 19. Sherali Kabirov Anyone familiar with how loss-making Talco spends money knows the company is not a harbinger of economic transformation. Yet Alimov likens the project to the Shenzhen Special Economic Zone near Hong Kong that kickstarted the Chinese economic miracle of the last few decades. And he is not shy with praise for Chinese knowhow: “What is striking is that the design and construction of the Darvoz Innovation and Technology Park fully draws on China's experience in developing technology parks.” Huawei, responsible for the park’s communication infrastructure, installed 4G mobile connections, enabling Chinese engineers to guide equipment assembly remotely on video calls. The project will create 1,000 “permanentR21; jobs – if true, welcome news in the penurious and remittance-dependent country. Alimov didn’t mention a nearby border guard facility, which the president also toured during his visit to the region, and which also has ties to China. Arranged inside for the commander-in-chief sat neat rows of new Chinese-made armored vehicles, including the Dajiang CS/VN3 and Dongfeng EQ2050 – machines designed for dispersing crowds and roadblocks, less an obvious choice for scrambling up mountainsides chasing the ghost-like holy warriors Rahmon constantly warns are plotting to cross the river. In his public comments Rahmon didn’t say who had renovated the facility, but in 2016 his government said China would build 11 border guard posts in such places. Darvoz base That Tajikistan is spending its own money on job-creating industry can only be celebrated, if indeed those jobs materialize. The country has lately spent a lot of Chinese money. And despite Dushanbe’s recent request for forbearance, Beijing has signaled it is not in a forgetting mood. Earlier in the month, Beijing postponed a $40 million debt payment, reported Sputnik. That’s small potatoes relative to the Tajik debt Beijing owns: $1.15 billion, 29 percent of Tajikistan’s external debt or 16 percent of the country’s GDP. Back to work If in recent months Chinese workers had been trickling back to Central Asia, now they are arriving by the charter-planeload, finding local authorities eager to get a jumpstart on normality. Many of the laborers and specialists are returning for the first time since departing in January ahead of the Chinese New Year, only to be stuck at home when the pandemic struck. On August 6, Hubei-based Huaxin Cement flew 138 Chinese workers from Wuhan to Dushanbe. Huaxin runs two large cement plants in Yavan and Sughd with a combined annual output of 1.2 million tons. Two days later, Beijing-based China Nonferrous Metal Mining sent 42 workers from Wuhan to the Pakrut gold mine northeast of Dushanbe. They can rest assured they are not landing in a viral hotspot: In March, 366 Tajik employees at the facility signed a pledge to stay away from mosques and other crowded places. Kyrgyzstan welcomed a flight from Chengdu on August 4, which was carrying 126 Chinese workers, including some for state-owned China Gold, CNPC and Power China. They return to a number of projects that have been on hold, including an irrigation upgrade in Issyk-Kul province and production at the long-troubled Junda oil refinery in Kara-Balta. A group of 19 workers with China Railway 20th Bureau Group Company arrived in Uzbekistan on August 13, brought back to resume repairing the highway from Nukus to Qarshi. Trusty trade Kazakhstan is the only Central Asian country that didn’t see trade turnover with China take a massive tumble in the first half of 2020. Trade between the two was down a mere 1.5 percent year-on-year. By comparison, Chinese customs data show trade with Kyrgyzstan down 52.8 percent; Tajikistan 34.4 percent; Turkmenistan 24.7 percent; and Uzbekistan 22.2 percent. Kazakh exports to China even grew – from $5.1 billion in the first half of 2019 to $5.9 billion in the same period this year. (That’s compared to just $2.1 billion in the first half of 2015.) The growth has been led by agricultural goods after Beijing determined that Kazakh produce meets its food safety import requirements, a process that picked up momentum in early 2019 and has proven a boon to Nur-Sultan’s diversification efforts. In August, for the first time Chinese buyers transferred a down payment to Kazir Agro for raw safflower oil ahead of delivery, an arrangement that a Kazakh exporter sees as a sign of growing trust. “As a rule, our foreign partners, especially China, have some reservations about [prepayments]. It’s a risk for them, Where’s the guarantee that the Kazakh producer will fulfill its obligations?” Sergei Salmanov, a Kazakh trade representative based in Xi'an, told Kazakh media. On August 8, the General Administration of Customs in Beijing allowed 78 more Kazakh companies to export flaxseeds to China, bringing the total to 103 companies, the embassy in Nur-Sultan announced. Kazakhstan’s pig farmers are looking for approval, too. An outbreak of African swine fever has nearly halved China’s porcine stocks since 2018, pushing demand and prices to record highs. On August 5, Kazakhstan’s leading breeders discussed plans to start sending more pork to China, after Kazakhstan was declared swine fever-free in May. On August 25, Shenzhen-based China General Nuclear Power Group (CGN Mining) announced it is working on a deal with Kazatomprom to purchase the Mynkuduk and Zhalpak uranium mines in South Kazakhstan province. The two companies together operate the Semizbay-U and Irkol uranium mines. The trade data may have been disappointing elsewhere in Central Asia, but business continues nonetheless. Forty-two 40-foot rail containers of polypropylene resin (used for making inexpensive, rigid plastics) left Turkmenbashi for Qingdao on the Chinese coast on August 20, reported Business Turkmenistan, the first time such a consignment was sent by rail. Though Russian gas producer Lukoil announced in late August that it had stopped exporting Uzbek gas to China due to weak demand, Uzbekistan continues to be the focus of a constant drumbeat of Chinese investment. To take one example in August, workers in the Kokand free economic zone broke ground on a factory to assemble Chinese-made electric vehicles. Toward the $30-million tab Chinese investors are contributing $24 million. The news agency quoted a Russian blogger likening the vehicles’ appearance to a Mercedes Benz. But other than the logo – an upside-down three-pointed star – few will see the resemblance.
mattjos: Pakrut is making great progress. It has come a helluva long way since the avalanche. Any new investors bothering to read the thread will be gobsmacked to see the size of the mining operation they have built & its still only at 50% of intended throughput Just bear in mind that buyers now are still getting the stock at less than CNMC paid for theirs!
mattjos: Bo … only very few were there in 2015 .. most only got interested in AAZ after it had already trebled/quadrupled from its lows ie. they are trend followers / traders rather than contrarians / investors. That's quite ok, as the market is populated by all sorts and needs all sorts to flourish. It's also a matter of time & this just needs a tiny little bit more time before it gets into its full stride. Most AIM punters measure the length of their investments in days/weeks and certainly not months or years. They crave daily share price movements to stay interested & without it they get bored in no time at all and off to chase some other piece of skirt. That's what pays Market Maker wages. Despite the absence of daily price movements, CNG has quietly moved ahead comfortably over 300% in just 14 months. I'm delighted with performance to date and look forward to the next 300%
mattjos: I fully appreciate that I am beating a lone tack here (eke also) but, the company has a mine development plan which they paid a lot of money for & as far as I can possibly determine, they have moved forward & are moving forward per the plan. The Chinese culture is very much a command and control one … Management message, will be consistently very simple; "Here's the plan, follow the plan!" & progress will be monitored against the plan and the necessary corrective action will be taken if there is deviation from the plan & its intended results. I've done my best here to detail all my analysis .. how other investors interpret what I share here is entirely up to them. Probably my investment timeline is longer than other people. I generally look at a 5+ year timeline for my investments so, assuming progress is approximate to my expectations, I fully expect to be invested here through 2024/25 & to have a higher number of shares then, as compared to today. If, as I believe is feasible, the debt is virtually paid down by 2025 then, there is the potential for some extremely attractive dividends and/or further expansion towards the mid-tier target expressed by the company ie. a further doubling of company production to 200+k oz per year. This is not a one-man band lifestyle AIM company. I firmly believe this is a future major gold producer just now in its infancy & taking its first unaided steps. It's growth story I want to be invested in and be a part of.
mattjos: This is probably one of the most common and proven TA patterns. Breaking $1,80 is a hugely significant event for Gold. Yes, there will be resistance at $1,900, for obvious reasons and may take 2-3 attempts to get through that but, once it does print new all-time high price it will gain a whole load of new energy as every Gold trader in the world is going to buy a new ATH - pretty much Rule 1 of investing. This is an 8-year bowl pattern & in that time, it will have thrown off all the weak hands and be alive with pent-up energy. The $1,800 breakout and brief re-test last week will have gained more new investors who will also be expecting & holding for much higher prices. Last week was one of the most important weeks for Gold in many, many weeks. Quite frankly, if CNG cant make this crack-on hum from here onwards, then they never will. Interest rates are nailed to the floor across the globe and lenders are crying out to lend with some sort of marginally +ve yield. The company will shortly have the Audited Accts for 2019 to tuck under its arm as it approaches lenders & has the gravitas of CNMIM as the primary equity holder and backer. Gold is running 25% above its planned price per the BFS & in a strongly rising environment. Any decent corporate negotiator should be able to virtually halve the average interest rate that CNG is currently paying on long-term debt, given the current set of circumstances & ten halve it again when Phase II is completed and delivering to plan. It's a sweet set-up & now all about financial management competency & operational delivery. If they don't deliver from here onwards, I will personally be on a plane to Beijing to meet them face to face & be demanding a job to do it for them :-) At the very least I can bring their website up to date & likely do a better job on IR than they or the Nomad have ever managed to date.
mattjos: Any new investors or, would-be investors, reading this board who has not yet made themselves known? It's a bit like the Mary Celeste here at times - that is often the way in the 'early days' but, as eke has pointed out, this has risen over 400% over the last 12 months so, surely others have noticed CNG by now? As far as I am concerned, the company is now at 'peak debt' (following the last $30m tranche in April). This latest $30m will be for Phase II of the mine expansion & the company has secured the debt at 'an annual interest rate at 1.15% plus 3 month LIBOR' … so less than 3% & way, way lower than the Discount Rate in the BFS. With CNMIM's continued backing, Gold well over their price assumptions, very low global interest rates & the mine now delivering per the Phase I production metrics, the company is in a very much stronger position to re-finance its older debt tranches. They will have to first get the Audited 2019 Full Year Results out + the 2020 Interims will also show a continuing improvement beyond 31.12.19 so, I do expect some activity on this front during H2 this year & see a corresponding reduction in the interest they are paying. Combination of all these things should see a significant improvement in the company financials this year & once Phase II comes on-stream the debt reduction process will commence. Were it not for CNMIM's backing and support, CNG would be at the mercy of the banks and would never have made it to this stage without huge prior equity dilution .. there'd likely be 2Bn+ shares in issuance by now. The other benefit of such a large and powerful backer is the leverage it gives the company in-country & in-region. Achieving their stated aim of achieving md-tier status will be greatly assisted by CNMIM's patronage & presence on the share register … what many will see as a negative, i see very much as a long-term positive. I also believe they still harbour the stated ambition of achieving a HK listing at some future point & therefore become more closely connected with Asian investors who are much more likely to perceive CNMIM's presence as a big positive & rate the equity at a premium in a way that the London AIM market probably unlikely to do. Whilst that is a few steps away into the future, investors may wish to keep that in mind as it would provide the necessary liquidity in the equity that might be deterring them from buying today.
mattjos: i am not pushing them for news jeanesy …. i'm sure they have enough on their plate just now with the CV-19 situation, although their extremely remote location will be beneficial at this time. I believe one of the easiest & quickest PR improvements they can make, is to simply improve their website and get some current photos on it. Let investors see the achievements to date and then the figures, as they come in, should reinforce what people can now see. As I have already suggested, please all do contact Maryna in the London office by email - make yourselves known & ask questions. She is a very nice lady who always replies and is passing all investor feedback over to management. As shareholders, everyone has a right to communicate with management about the company we own. Make the effort.
mattjos: I have communicated some thoughts, suggestions & opinions to the London Office, which has in turn been forwarded to the Beijing office. The response has been positive with regards a change to Q'ly reporting and updating the website. This should not preclude other investors from making an effort though & I do urge others to do similar … I believe it is very important that company management get feedback direct from their investor base. The NOMAD is not an investor in the company .. they have a different agenda / business imperative to the investor base & acting as a mailbox from investors to company management does not earn them money so, they aren't interested to get involved. It is only direct communication from investors to the management that will give the management a clearer understanding of sentiment and understanding that prevails in the marketplace. Contact details for the person in the London Office are here on their website: Make the effort please chaps & let's get the management to understand that there is an interested & engaged UK investor base who desire better communications from the company .. particularly now we are a productive gold miner.
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