China Nonferrous Gold Share Discussion Threads

[eke] 16/10/2020 01:30

From the local press;- oronavirus slows down the growth rate of gold production in Tajikistan 08:48, 15 October Posted by Payrav Chorshanbiev, Asia-Plus 2 1 0 732 Photo: mtdata.ru Mining enterprises of Tajikistan for the first nine months of this year increased gold production by 10.2% compared to the same period last year, according to the country's Ministry of Industry and New Technologies. This is less than planned. The slowdown in the growth rate of production of mining products, including gold output, is associated with the coronavirus pandemic in the Ministry of Industry. At the same time, the ministry does not indicate production volumes. Earlier it was noted that over the past five years, the annual growth in gold production averaged 20%. The department noted that it plans to keep production at about 20% in the coming years. The ministry believes that all the necessary conditions exist for this in the republic. Mainly, they intend to increase metal production through the implementation of large investment projects at the Taror, Chore, Pakrut and others. In recent years, gold production has more than quadrupled: from 2 tons in 2014 to almost 8.1 tons in 2019. The main gold miner in the republic is the Tajik-Chinese joint venture "Zarafshon", which accounts for about 70% of the total production. Also, the Aprelevka JV, the Tilloi Tochik state-owned enterprise, the Odina artel, and the Pakrut company are also involved in gold mining in the country. The Ministry of Industry notes that the produced gold is purchased by the National Bank, the Ministry of Finance and jewelry manufacturing enterprises. Под;роk3;не 77;: hxxps://asiaplustj.info/ru/news/tajikistan/economic/20201015/koronavirus-zamedlil-tempi-rosta-vipuska-zolota-v-tadzhikistane

[mattjos] 15/10/2020 16:30

unfortunately impossible to tell with CNG, shezza .. they always play their cards very close to their chest

[shezza1] 15/10/2020 16:26

Is there any news flow due or is the next news going to be a production update in Feb?

[bmcb5] 13/10/2020 13:02

I picked up a few more yesterday. Think I'm done buying for now.

[fozzie] 07/10/2020 18:14

I bought some at 3.5 way back when Matt, trouble is i also bought a lot at prices between 10 and 14. Certainly did not expect this performance over the last six weeks.

[mattjos] 06/10/2020 21:56

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

[fozzie] 06/10/2020 20:21

Mine were sells and then Matts were buys or at least that is how it looks to me. Sells up to the first buy at 15.05pm Doing very well elsewhere thank goodness so can afford to wait here.

[mattjos] 06/10/2020 19:19

Might be a bit more exchange at 10p yet - i hope. ... I have a limit set at 9.95 for all this week but, it failed to get filled all day today.But, i agree, should turn up from these levels and see 20p again in the next 12 months.Folk incessantly moan about the debt but, they'd have moaned more had the mine been founded on equity issuance.It's much, much too early in the gestation of this company to consider equity issuance, imo.The company is holding its own & the 'patron' is standing behind the company in case it has another stumble in these early infant years.Rather than focus on the debt itself, i think people should see the other side of the coin .. the company is holding it's own and capable of servicing the debt ... that is a fantastic achievement. I remain of the opinion that the market has this all wrong here & quite happy to keep hold of my 0.5% for the far longer term.

[wind dancer] 06/10/2020 19:03

Clever chap then.Lets hope he makes a great return. Should turn up from here.IMO

[mattjos] 06/10/2020 18:49

I suspect the buyer had programmed a series of Limit Buys at 10p & that is the sum of what he managed to get today ... Bang on the trend line, from the absolute lows, also

[mattjos] 06/10/2020 18:47

Offer price was 10p throughout the time of those trades so, assume they are all Buys

[wind dancer] 06/10/2020 18:36

So are they buys or sells chaps?

[novicetrade68] 06/10/2020 18:13

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 Podrobno.uz 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] 06/10/2020 17:59

appears someone has picked up 490,000 today at bang on 10p:

[fozzie] 06/10/2020 15:19

Looks like someone unloading a position today and it's taken the price down to 10.30 bid. I am holding but break even at 10.3

[bo doodak] 30/9/2020 17:07

Still no progress on the main issue in terms of the share price - debt. Cannot see this share going anywhere until that particular boil is lanced.

[mattjos] 30/9/2020 15:01

This year looks like it will equal / slightly exceed 2019 production based on current run rate but, at circa 40% higher gold prices. Valued at less than 1 x Revs

[mattjos] 30/9/2020 14:55

I assume their real point was that there can be no guarantee that price of gold will remain so elevated + who the hell knows what is going to happen with regards Covid. Both points seem entirely sensible for any management team to flag up, albeit CNG wording not great but, English not their prime langauge

[hari] 30/9/2020 14:49

From 2020, the gold price began to rise, especially after March 2020, which has benefited the Group. From January to August 2020, the Group sold 21,314.66 oz of gold ingots, achieving sales revenue of US$36.51million (unaudited), with an average sales price of US$1,712.96 / oz. However, there can be no guarantee that these sales will be achieved for the rest of the year.why do they know to say that last sentence .Another low key update . As I said the debt is going to keep this down for some time Not sure when they will start to pay it down .Good luck , I will revisit this next year or when there is news on the upgrade of production .All silent on that side .It was a poor update with regards to that as this is the news that can move the Co to the next level Good luck holders

[ironstorm] 30/9/2020 14:01

I decided to sell my (tiny) holding today for a 10% profit in 6 months. I do have concerns over the chinese link and the levels of indebteness. Seems to be a highlight of the report. I feel that if the Chinese decided to go aggressive then (UK) shareholders could be wiped out And it wouldn't be the first time. Undoubtably value here - not sure who is going to see it. On a double or quits approach I have quit. Best of luck to you all.

[jeffus77] 30/9/2020 12:32

Agreed Mattjos, these guys are delivering at the moment. Come on CNG!

[mattjos] 30/9/2020 11:14

the Jul + Aug time period YonY is what's new fozzie & that is looking very healthy

[fozzie] 30/9/2020 10:41

Not sure there is anything new in there, the boss is certainly a glass half full sort of guy.

[mattjos] 30/9/2020 10:39

They seem to be sticking with their way of reporting which, seems a bit odd as compared to peers but, there is consistency YonY in the way they are doing it so, we can do basic time period comparators. The plant is averaging 1,904t ore / day in H1 2020 as opposed to 1,710t ore / day in H1 2019 so there is clear increase in ore processing ability. The primary Recovery Rate has similarly increased from 87.85% to 92.07% The smelter has increased from processing 45t/day in H1 2019 to now processing 49t/day in H1 2020 but, the smelter recovery rate appears to have dropped off slightly. Overall H1 2019 there were 0.05025 gold ingot / t of ore processed Overall H1 2020 there were 0.05052 gold ingot / t of ore processed Drilling down further: 2019 Jan-Jun Revs: $20,881,000 Ozs Sold: 15,557 Ave. Price / oz: $1,342 Ave. oz / day: 86 Ave $ / Day: $115,365 2019 Jul + Aug Revs: $6,989,000 Ozs Sold: 5,350 Ave Price / oz: $1,306 Ave. oz / day: 86 Ave $ / Day: $112,726 2020 Jan-Jun Revs: $24,330,000 Ozs Sold: 14,839 Ave Price / oz: $1,640 Ave oz / day: 82 Ave $ / Day: $134,420 2020 Jul + Aug Revs: $12,180,000 Ozs Sold: 6,475 Ave Price / oz: $1,881 Ave oz / day: 104 Ave $ / Day: $196,452 from June onward, the plant seems to perform much better, which I assume is weather/temperature related + the ongoing optimisation of the plant is still evolving & having an impact on YonY comparators + we still don't seem to be getting any commentary as to what specific progress they are making towards Phase II. CNG are unusual in that they do everything themselves in their mine … extraction, processing, refining/smelting. It's a BIG operation & I cant work out how long the process takes from start to finish for a notional oz of gold. Dread to think what the value of Gold is 'in-circuit' at any one time & how they can even calculate it. Main thing is production is stable and trending upwards with a rising Gold price. They are unaffected by Covid

[glawsiain] 30/9/2020 10:35

results are out at the slightly odd time of 9.51 htTps://uk.advfn.com/stock-market/london/china-nonferrous-gold-CNG/share-news/CHINA-NONFERROUS-GOLD-Interim-Results-for-the-Six/83360952