China Nonferrous Gold Share Discussion Threads

[danmart2] 19/3/2025 08:23:28

What did happen to the mine and its ownership?

[eke] 18/3/2025 22:26:05

What price would these shares be with gold at $3000 ?

[eke] 02/6/2024 02:36:39

May 28th.The End.It's been a rough ride for us hopefulls. I would love to know what has happened to the mine and the ownership. I guess we will never know.Time to move on.

[coachsailor] 17/4/2024 14:52:45

Many thanks C9 and eke for the update on the current situation. I had not followed CNG properly since the avalanche and it was mostly negative comment when I did look at this thread.

From what you say, provided the price of gold maintains its present level, there is still a chance of a positive outcome.

[c9ajl] 17/4/2024 13:05:48

I would also add that Phase 2 development never got going, no doubt due to stretched finances. The initial repayment plan relied on this increased production to pay down the loans.The avalanche was covered by insurance but that hasn't mitigated the total impact on the mine and the things appear to have deteriorated since. A second avalanche causing a short closure just added fuel to the fire.An update to resources highlighted the need for more exploration drilling to provide confidence in what is in the ground. This started but I don't recall any updates before the loan issues led to delisting.The loan issues seemed to hinge on the ability to pay down the loans not just maintain interest payments. An increased gold price provides the ability to pay down the loans, pay for an increased drilling programme, and potentially get Phase 2 off the ground to further speed up the loan payments.So there might be a chance these discussions are ongoing?

[eke] 17/4/2024 12:20:28

I don't believe it's a Chinese Scam,the mine suffered a disastrous Avalanche in 2017 which stretched their finances and scuppered their production for almost a year.Loans were taken out to rebuild and expand the mine which started the downward spiral and subsequent de-listing.Their financial position was calculated when gold sat at $1800 an oz.Its now nearly $600 an oz more so now the company are in a much stronger position to clear some of this dept.As long as the mine continues to function then there is hope for a relisting in the near future.

[c9ajl] 16/4/2024 19:57:52

The website is still live:Https://www.cnfgold.com/

[coachsailor] 16/4/2024 19:13:34

Hi eke. I bought 30000 Kryso back in 2010 and they always seemed very healthy until their decline after 2017. I thought the Russians may buy them out a bit like Highland Gold, but now guess it was probably another Chinese scam. Despite the current value of gold and the assets at Pakrut, nothing has been heard since 3 Jan.

I hope you are right that "No news is good news", and they can negotiate a deal, but fear that more likely it`s gone. Having de-listed though, can`t even sell them for a capital loss.

[eke] 11/4/2024 21:00:22

For the Mine,this is looking better by the day.I would love to know what's going on here!Dare I say"No news is good news".....

[eke] 21/3/2024 12:39:09

More money in the ground now at $2200 an oz only CNG can mine it ..They are in a stronger position to negotiate a solution here

[eke] 04/3/2024 11:52:16

I would hope they are renegotiating the dept, with gold over2k an ounce, there's a lot of money in the ground which will require mining.

[danmart2] 01/3/2024 11:15:00

Why the delay in striking off?

[danmart2] 28/12/2023 08:49:25

It’s all over

[elpirata] 27/11/2023 10:48:29

No company!

24/11/20223 3:30pm

TEMPORARY SUSPENSION OF TRADING ON AIM

CHINA NONFERROUS GOLD LIMITED

At the request of the Company, trading on AIM for the under-mentioned securities has been temporarily suspended from 24/11/2023 3:30pm, pending clarification of the Company's financial position

Killed by the debt but no doubt the chinese will do very well out of it in the longer term

[texaschaser] 05/10/2023 11:12:56

Talk about a dead cat bounce. More like a dead mouse bounce. 0.5 will be tested soon.

[beeks of arabia] 11/9/2023 13:44:49

Yes, never listen to other BBers, always do the research is the lesson.I sold at the last big drop, lesson learnt. Near the bottom I may add, before any think I'm putting a good spin on.

[hari] 07/9/2023 19:37:25

Hopefully now you realise why debt has been a bigger problem that you have realised to see It was clear to a few here The last incident probably ended any small hopes .It was just a matter of time the loans would be called in .

[elpirata] 07/9/2023 18:51:15

Here we go, after hours rns, CNMC to take the prize, this was always the risk due to the constant debt rollovers

[mattjos] 18/7/2023 20:59:33

long term Gold chart looks mouth-watering to me ... we are surely not too far away from new ATH's, particularly if the FED are near done in coming months.
Would be a very propitious time to release some good drill results &, one hopes, greenlight further drilling at Eastern Pakrut, Sulfidnoye and the Rufigar.

We've built a very, very significant Gold mine at Pakrut and have significant additional resources within just 5km of this plant ... Gold moving to new ATH's will surely motivate management to be a little braver & start to finally discover and reveal the true potential here.
We have surely not come this far to simply languish at a Mkt Cap of $7.5m

[mattjos] 13/7/2023 16:31:35

In the meantime, I was pleased to read this in the Y/E report om 30/6

"In addition, a total of 86 drill holes were completed, approximately 6,259m, with the associated assays expected back from the laboratory in due course. A further announcement will be made at that time."

&

"I very much look forward to updating our shareholders further on the mine developments, production levels, new strategy and direction."

That's the first time we've done any exploration drilling for years.
They dont say where they have done the drilling exactly but, presumably outwith the known parameters of the existing mineral deposit.
6,259m / 86 holes = ave drill hole length of 72m so that still ooks to me like it is underground drilling rather from surface anywhere eseon braoder Pakrut license area.

In the SRK Mineral Resource update on 24/4 they advised:

"In addition, it will look to increase exploration activity at site with a view to extending the life of mine".

They are not hanging about on the drilling.

Look forward to essay results

[mattjos] 12/7/2023 12:49:23

One very good reaosn for the parent conmpany to be so motivated is the seemingly increased potential for the BRICS nations to introduce their, Gold-backed, alternate trading currency and this is strongly rumoured to be launched at next BRICS conference in J'Burg.

That event does have the potential to competely upend the market dynamic in the pricing of Gold that has persisited since Bretton Woods and could very well, finally, emable true price discovery in the markets.
If China, Russia and others have quietly cornered the physical gold market during this periof of paper contract price suppression then Gold price could markedly move significantly higher in very short space of time.

[eke] 12/7/2023 12:30:34

We desperately need Gold to move up to $2k per oz and higher to help this company survive. A few private Investers have stayed loyal for a long time with the hope that the Chinese"waiting game"will finally pay off. I admire the Parent company for their constant financial support,however,I'm sure they are worried about the mine just like the rest of us.