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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
China Nonferrous Gold Limited | LSE:CNG | London | Ordinary Share | KYG215771042 | ORD USD0.0001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.30 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 68.53M | -287.04M | -0.7507 | -0.02 | 4.97M |
Date | Subject | Author | Discuss |
---|---|---|---|
20/3/2022 16:59 | Mattjos, Do these figures add up to yours? 24th Jan 2022 Summary of Current Financial Position At the current time, excluding the new CNMC Loan, loans drawn down by the Company amount to c. USD$319 million, this includes US$99.55m of banking facilities (unaudited). this week gone ( approx 2 months later) Summary of Current Financial Position The Company has total debt facilities (including banking facilities) of c. US$319m at this current time (unaudited). | hari | |
20/3/2022 16:30 | Maybe but, I don't see either of Russia or China having any interest whatsoever in Tajikistan right now.The market cannot keep ignoring the metrics here for ever.The shares are so thinly traded with none of the major equity holders ever having sold any. The price gets pushed about on the tiny volumes of the marginal & highly emotional PIs. | mattjos | |
20/3/2022 13:35 | Hi MatJust a few thoughts. Agree with everything you have written and can only conclude that its just "pure ignorance and stupidity" by the markets.The main worry is how long will they continue to act this way. The country was linked to Russia in the past but is now fully Independent and it does boarder with China, both Countries are under the spotlight. for many reasons which could be playing ,having,a negative roll on the share price The facts and figures speak for themselves but until we see some positive news from this region of the world the markets will always fear the worst.The smart ones, those of us on the BB are already "in" and awaiting the day when this MADNESS is finally over. | eke | |
20/3/2022 12:24 | The company has paid back $69m of its debt since Dec 2020 ie. over the intervening 15 months.During that time Gold has averaged around $1,800/oz.Gold now trading circa 12% higher but, Mkt Cap has continued falling.Debt is reducing by circa $4.6m/monthMkt Cap is circa $31m$4.6m x 12 = $55m .. that's how much debt the company is capable of paying back (whilst simultaneously servicing the interest costs on the o/s debt) ..... & the company is valued at $31m.That is ridiculous. It's generating Cash at a rate virtually twice its current valuation.Please, can anyone point me in the direction of anything else that I can buy with same attributes?If you believe that the price of Gold is going to hang around these levels or go higher, this company is surely going to be a huge beneficiary. | mattjos | |
18/3/2022 19:32 | Just because the 'Chinese' way does not involve 'spoon feeding' investors the opportunity offered, that should not prevent the market/investors taking the information given and doing the maths for themselves. It's not difficult. Just takes a bit of effort. There is a glaring valuation anomaly here. The price is down here on nothing more than boredom & a general lack of understanding. It is not going to take many people to do the maths and conclude it's a Buy before we see this correct 150-200%, imho. | mattjos | |
18/3/2022 19:26 | The H1 2021 Results were issued on 29th Sept 2021 & the share price closed at 10.8p on that day. There are exactly the same number of shares in issuance today as there were on 29th Sept 2021. Today we are told "total debt facilities of c. $319m at this current time" Shares closed today at 6.5p So Debt has reduced $40m between these two updates … arguably that should switch over to an equivalent increase in MKt Cap (for EV to remain constant) but, in fact the share price (Mkt Cap) has actually fallen. It seems illogical. + What we do not know is the NET Debt position as at today … we are not told how much Cash/Receivables/Gol So let's look at the Gold price .. maybe that helps explain the seeming anomaly. Gold price (when results announced 29.9.21): $1,725 Ave Gold price achieved for H1 2021 Gold Sales: $1,785 Gold price today: $1,920 Still makes very little sense for the Mkt Cap today to be lower than it was six months ago. I would have reasonably expected Mkt Cap to now be more like the equivalent of 18p / share | mattjos | |
18/3/2022 19:16 | Good spot mj!! | bazboa | |
18/3/2022 19:04 | From the H1 2021 Results: From today's RNS: | mattjos | |
18/3/2022 16:27 | "...including in particular around the use of proceeds for the new loan..." Finance for the purposes of Phase II expansion (CAPEX purposes) is different from loans for, say, the purposes of Working Capital. At first blush, this appears to be the something around the root of this RNS | mattjos | |
18/3/2022 16:16 | sleep Friday and no one watching the newsflow. So easy to miss news here as they so often put news out during the day. Yes wanobi .. that is the part of the statement that has caught my eye. For 99.9% of folk, it has no meaning whatsoever but, for a few here it is of interest. | mattjos | |
18/3/2022 16:14 | who knows what they've been doing or what they plan to do Hari, not me, Cheers Wan | wanobi | |
18/3/2022 16:06 | ok guys I see it now So you alluding that a new loan MAY be used for expansion? But that does mean the debt going back in the short term. I wonder how long phase II expansion will eventually take | hari | |
18/3/2022 16:00 | agreed Mj, why phrase that way,,, one to read between the lines of me thinks,,, but, who knows what it means,,, the "use of proceeds for the new loan" could mean anything!!!! Cheers Wan :-) | wanobi | |
18/3/2022 15:51 | Mattrjos, You mean this? The Company continues to engage with commercial banking partners to explore a wider refinancing of the business and further updates will be provided in due course. Summary of Current Financial Position The Company has total debt facilities (including banking facilities) of c. US$319m at this current time (unaudited). Does that mean debt is the same as January?. I am so disappointed with this COs inability to provide quarterly updates though. Obviously no interest in the shareholders. Only the debt holders matter | hari | |
18/3/2022 15:44 | interesting wording in the that RNS | mattjos | |
18/3/2022 15:14 | That small 20k purchase was mine, just before the loan extension announcement. | beeks of arabia | |
18/3/2022 11:00 | Mattjos, I agree with the view, debt is preferred than to dilution. I do not dispute that, and it was necessary at the time. It is more the valuations suffers until the debt is paid or being paid down. But we should see the share price react positively as it reduces now, as said before. For phase II, a staggered increase might the way to go, investment and debt reduction can work side by side. Also if we have a long term Gold price above $2000, then any concerns I have will be removed. | hari | |
17/3/2022 19:56 | Hari, maybe try to have a look at the broader macro-economic climate. Every rate rise by the FED from here, is like a tippy-toe towards the cliff edge & we're damn near the edge as it is. I think the higher they raise rates, the higher Gold is going to go as it simply gets us closer to the next QE parachute. If you thought previous rounds of QE were big, wait until the next one arrives .. & the Gold price action is like a front-running indicator of what is coming. Between now and then, Real Interest Rates continue to plough deeper and deeper into negative territory. CNG is a 40koz producer at 50% Gross Margin. The market will find it at some point during this Gold Bull. I keep tucking them away but, not so easy last few days as no obvious seller :-( | mattjos | |
17/3/2022 18:00 | Hari, there are always negatives & possible negatives with every single investment, always. No such thing as a dead-cert in business. £23.5m Mkt Cap here … fgsake, we are a 40koz producer & not some penniless explorer. I do not have a problem with debt that is for productive purposes. Can you imagine what sort of a mess this would be in were the original IPO management team still in charge? There'd be about 10Bn share in issuance and I very much doubt the mine would even be constructed yet, let alone in production. With CNIM's backing, we've built a significant Gold mine with good LOM and plenty more resources right on our doorstep. The interest costs on the debt are a fraction of the profit margins from the operation, when gold was much lower. We're pretty much now running the mine per the mine plan & the KPI's outlined in that mine plan. For me, this is now the time to move ahead with Phase II but, I'd be looking for ways to achieve it incrementally using organic cashflow whilst keeping the KPI's per the mine plan. More like 40koz --> 60koz --> 80koz over a 24 month timeframe rather than trying to go from 40koz to 80koz in one big leap. Stagger the CAPEX according to the cash generation of the mine. Yes, it's a bit more of a conservative approach but, it should not require CNIM's backing as has been the case to date and is the sort of approach that lenders are going to like. Having said all that … CNG might just as easily RNS Phase II Go-Live out of the blue, any day & take everyone by surprise. It has to be done at some point because even with the long LOM, current rate of extraction/productio Meantime, Gold price will have its inevitable impact on the mkt cap soon enough. | mattjos | |
17/3/2022 15:52 | "We're now clearly on the path to the next recession and the next gigantic bout of QE.I expect Gold to hit $2,200 in the next couple of months"Positive for Gold and ppl hold gold stocks . But unfortunately that will be a gloomy period for the world economy . I guess with further QE be positive for the market again .A vicious circle , how will it be broken? | hari | |
17/3/2022 15:36 | MattjosAt this price I see no risk but only reward going forward .I look at it as almost a safe bet Without fear of losing my money .Increase in Gold will also support investment case here However the large debt plays on my mind which impacts the time we will see larger gains .I am struggling any other gold play with debt showing the valuation we think it may deserve based on cash flows / profits etc . However I see decent valuations once the debt has been vastly reduced or paid .CNG , well it could be another year before we come below $300m . Then I worry about the renegotiation of existing at higher rates when these expire again . Then I worry about debt reduction not reducing as much during the year of mine expansion So could be 3-4 years until debt is paid down , then I expect to see big rises Oh I forget what is LOM here?There is room for further asset expansion which will extend this .Do you agree or think about any of that ? | hari | |
16/3/2022 21:46 | I honestly cannot think of a better environment for Gold than right now. The FED is hiking into a Yield Curve that is already inverting. Rates are barely above 0% while inflation is surging & with China going back into national Covid lockdown (most curious the timing of these new cases), expect inflation to continue surging as Supply contracts & therefore Real Rates will plumb new depths. These are the fertile breeding grounds for a stunning Gold bull market. Plenty of leverage in the P&L here and plenty of leverage on the Balance Sheet. All leveraged on the fulcrum of the Gold price. It's a great macro & company specific setup for CNG and with much, much less than 20% free-float, any modest buying will have an outsize impact on the mkt cap. | mattjos | |
16/3/2022 11:08 | given how sensitive this is down here to even a sniff of buying, I look forward to a 1-2m+ buying day | mattjos | |
13/3/2022 11:10 | Anyway, I remain persuaded that the price of Gold has a lot higher to move this year& we should see at least $2,500. It still does not seem to have dawned on most people that events of the last month have completely altered the world economy & that Gold is, once again, moving towards being the most highly prized form of 'money'. I see some in the media are speculating that Putin will have to sell some of his gold reserves in order to keep funding his war machine. I expect him to do quite the opposite and we'll see him selling his commodities, oil & gas in exchange for physical gold as payment ie. he will be buying yet more to add to Russia's reserves. That could well be the catalyst necessary to destroy the false Paper markets in Gold and true price discovery for the metal will emerge, as a result of gold de facto becoming the new commodity currency. | mattjos | |
12/3/2022 20:18 | I really don't understand why people seem so concerned abut CNIM's presence here. Just how many more examples do they need to see of CNIM backing Pakrut, before they start to see CNIM as not just a 'bad' majority shareholder. | mattjos |
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