China Nonferrous Gold Share Discussion Threads

[mattjos] 09/9/2021 18:50

You can often make a chart fit any Bull or Bear argument with a few lines - depends on your point of view when you first look at it.
I do try to study charts together with as much of an understanding of the prior events in the company history as i possibly can and therefore exactly why investor sentiment has swung between enthusiasm and despair.

I think its obvious as to where CNG dropped out of its long-term parallels - that snowstorm and avalanche really knocked the whole project off-course.
We tried to regain the lower trend line at the end of September 2019 when production first started but, that effort failed. We've also had to contend with Covid since start of 2020 & that has kept us pegged back.

But now, two years after that failed first attempt & with constant production throughout, I believe we are going to have another go at getting back into those parallels & that would be achieved with daily close around 23-24p.
Once back 'in-trend', there will then come a time when we subsequently hit the upper parallel … currently in the 52-55p range.
Remember, there has been no equity dilution under the stewardship of CNIM.

[mattjos] 09/9/2021 16:46

seller wants 10p+ .. buyer has scooped up most everything offered under 10p and so is now probing higher to see where the seller will give him more & how many.
Bit of cat'n'mouse at the usual 'round number' 10p hurdle & after a 16-minute, twice-extended auction, we get a whimper of a UT for 184 shares at 10p :-)

[mattjos] 09/9/2021 16:36

great analogy wanobi & I think absolutely spot on analysis

[wanobi] 09/9/2021 16:35

feels like kick-starting an old Bonneville,,, one of these days it's just gonna fire and off we go :-) :-) Cheers Wan :-)

[mattjos] 09/9/2021 16:34

Highest Weekly Volume for 2 years. Certainly seems to be a healthy change of hands in progress

[joey wilson] 09/9/2021 16:33

What was that all about ?

[mattjos] 09/9/2021 16:18

big burst in activity here as we try again to burst through the 2-Yr downtrend from the September 2019 22p highs

[mattjos] 09/9/2021 15:46

been very quiet for weeks and weeks now JW.

[joey wilson] 09/9/2021 15:14

I have bought approximately another 66k this morning at 9.6p. It has not yet appeared !I therefore suggest 34k at 9.65p is a BUY ?Very quiet today everywhere.JW

[mattjos] 08/9/2021 17:37

400,000 Trade late reported just come up

Price 10.5p
Time: 15:04:23
Volume: 400,000
Whether executed yesterday or today, it look like a Buy to me.
Highest reported daily volume this year.

[wanobi] 08/9/2021 07:44

echo that JW, many thanx Mj, your research is 'second to none'.... cheers Wan :-)

[joey wilson] 07/9/2021 22:00

Thankyou for that information Matt. I was not aware that CNIM had a 38% stake at an average of 18p.Surely that should help ease people's minds, when making the plunge here.I am pretty confident about the upcoming news release following todays RNS.CheersJW

[mattjos] 07/9/2021 21:16

checked back in my notes

2.9.10 - CNIM subscribed for 73,269,539 @ 15p / share with accompanying 1 for 1 Warrants at 21p


13.9.12 - CNIM subscribed for 22,000,000 @ 21p / share


28.9.12 - CNIM subscribed for 51,333,333 @ 21p / share


That equates to £26,390,431 equity investment for 146,602,872 ie. 18p average / share buy in price.


Let's assume a 12p purchase price for any new investors from here onward. That's a 33% discount below CNIM's average.


Mkt Cap at todays close is £38.8m

[mattjos] 07/9/2021 19:59

Indeed JW.This has been a long, long time in consolidation after the first rise from 2.6p to 22p which materialised off the back of maiden production from Pakrut.Since the company is using the Unit of Production methodology to deprecate the mine asset, there are insufficient number of production reporting periods, at current run rate, to fully recover the mine development costs over the term of the mining licence (assuming it is not extended - i do expect it ultimately will be but, that's for another discussion) hence, it is essential they increase the rate of Production. At the very, very least to a rate whereby the Devt. Costs are fully depreciated by the end of the current licence agreement. The Depreciation methodology directly links rate of deprecation to rate of production ergo, Production has to rise.I forget the exact figure now but, CNIM's 'average' for their purchased equity here is much higher than today's price. Think they are averaged at around 15p.Yes, they have a big holding but, they are clearly taking the lions share of the risks here, not least by standing behind the current debt.Buyers now are able to acquire the equity in the productive Mine for a lot less than CNIM paid, when this was just on the drawing board + Gold is circa $1,800 today as against a historical project planning assumption of $1,250.I believe the equity is currently changing hands for less than half of its correct value, at this stage of the project .. maybe there are finally a few others who are beginning to see this too.

[joey wilson] 07/9/2021 16:21

Reading between the lines to me, this RNS release today suggests that CNG are producing more gold than the government had an appetite to buy, which suggests an increase in production, maybe in line with Phase 2 target of doubling production. Lets wait to see.... Time will tell.Still way to cheap JW

[mattjos] 07/9/2021 16:16

smashed that ultra-brief 10p Offer. The buyer(s) are waiting for any weakness

[joey wilson] 07/9/2021 15:53

For information only and guidance where this share price is going. Ive just done two dummy trades.20k - 9.95p200k - 9.17p. Please note they will take the lot at 200k without a negotiated order.This shows to me confidence that the market makers feel this share price is going UP.GLAJWPs who knows...... but feels like it right now. I know certain people have waited a long time through a global pandemic for CNG to achieve its goals. Maybe just maybe 30/9 will give us the news that has been waited for......

[ironstorm] 07/9/2021 11:55

Yes from shareprice reaction over the week it has been hotting up.

Maybe those in the know buying ahead of news . . .

[eke] 07/9/2021 11:16

Nice surprise this morning from across the pond.Had a gut feeling last week that something was brewing!Exciting times ahead for us all who have waited patiently.The "herd" will be watching this closely now.

[fozzie] 07/9/2021 09:08

Liking this Matt, it's been a very long patient hold.

[mattjos] 07/9/2021 09:05

looks like someone has decided they are going to have anything offered below 10p now

[joey wilson] 07/9/2021 08:48

If they do confirm completion of Phase 2 at the upcoming new release 30/9, I see no reason why this should not be at least 25p. The company will easily be in a position to pay chunks of the debt down. As soon as we start seeing this happen, just watch the price rocket. There will be more sustained interest after this point in time, but the larger return will be made by investing now at such low prices. GLAJW

[mattjos] 07/9/2021 08:40

Indeed, another 50k already today