China Nonferrous Gold Share Discussion Threads

[wanobi] 06/6/2022 18:32

not sold any :-)
GLA
Cheers
Wan :-)

[mattjos] 06/6/2022 17:26

still only tumbleweed to see here but, only 3 weeks or so now until FY 2021 results are due out & then a further 3 months to the H1 2022 results.

I'm still expecting to see a Profit before Tax reported for second half and the full year as a whole, in part on assumption that Ave. Sales Price for H2 was circa $1,780/oz.


Given that:
FY19 was a Loss of $21m
FY20 was a Loss of $5m

A Profit for FY21 should give a clear signal that the mine is now 'wiping it's face'.

Tajikistan is now over 60% vaccinated and Covid cases flatlining at Zero.

If I were in the top seat at the Board Meetings, I'd be voting that now is the time to get Phase II going as there is now a proven & significant profit opportunity once they get production up to circa 80koz / year.

Market Cap sill under $30m .. less than 40% of just one full year Revs. That is cheap but, I guess the market just will not look past the debt figure at this time.

[mattjos] 31/5/2022 08:45

As I keep saying, those statements do not make any reference to Cash that the company is holding - they are Gross positions not Net.+ read the earlier news items with regards the scheduled repayment cycle.We're due an update in June

[joey wilson] 31/5/2022 07:51

Could it be they are using funds to upgrade production first ?JW

[hari] 31/5/2022 07:29

I know I mentioned awhile ago but still I am baffled with the debt figures ,
It means no debt has been paid down in 10 months . Anyone wish to clarify the two RNS below , identical

April 2022 this year
Summary of Current Financial Position
At the current time, excluding the new CITIC loan outlined above, loans drawn down by the Company amount to c. USD$319 million, this includes US$99.55m of banking facilities (unaudited).

Last year June 2021
Summary of Current Financial Position
At the current time, loans drawn down by the Company amount to c. USD$319.5 million, this includes US$99.55m of banking facilities (unaudited).

[bazboa] 30/5/2022 15:48

Nice bit of interest today, hopefully it continues

[eke] 17/5/2022 16:18

In todays Mail. Not good publicity for Taj being seen next to this MADMAN !!

[mattjos] 15/5/2022 19:28

With GBPUSD now down to 1.23:1 and share price at 5.725p, Mkt Cap is now down to $27m … circa 77% of Annual Gross Profit.

[mattjos] 25/4/2022 15:06

online bid is actually a little stronger for size

[hari] 22/4/2022 12:09

Anyone know what these recent trades at 6p are ?

[wanobi] 20/4/2022 19:01

come on CNG,,, you've flatlined!!! grrr!!! GLA LTH's Cheers Wan :-)

[rawroast] 20/4/2022 12:48

Related news...

[ironstorm] 12/4/2022 18:01

I’d quite like them to they’ll us that. Might help.

[mattjos] 12/4/2022 16:38

how high will Gold have to go before we see some renewed buying interest in the company?
Doing wonders for Revs & C/F these prices.

[mattjos] 12/4/2022 13:51

Golf powering higher

[mattjos] 11/4/2022 09:48

The $1,920 Sept 2011 highs now acting as support for the price of Gold.
Very Bullish chart setup for Gold:

[mattjos] 08/4/2022 16:28

cracking Gold price action & looks to have broken out today from the recent consolidation pattern

[hari] 06/4/2022 12:35

Mattjos,

That makes sense, I guess we are not sure of when scheduled payments are actually made

[mattjos] 06/4/2022 12:23

Hari, they are not scheduled to pay down debt on a willy-nilly basis .. it's scheduled payments.
What we still do not know is the Net Debt position.

We know what the Gross Debt figure is but, we don't yet know the Net Debt position is, according to the offsetting Cash & Receivables figures + the value of metals in circuit.

[hari] 06/4/2022 12:19

we are 2-3 months in now, so why is debt still reported at $319m, I would have expected this to be sub$300m now

[mattjos] 06/4/2022 12:15

good that the interest rate is 0.25% less and is over trailing 6-month LIBOR rather than floating LIBOR.
Every penny counts!

This should be all the necessary re-scheduling of Debts now completed, as far as I can tell so, next news should be about either Operational performance and/or financial performance.

Stage is now well set so, let's see what Pakrut can deliver going forward from here

[wanobi] 06/4/2022 12:08

Execution of New Loan Agreement - China Nonferrous Gold Limited (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, is pleased to provide the following update:

Banking Facility from China CITIC Bank Corporation Limited Zhuhai Branch

The Company has today executed a foreign currency working capital loan agreement with China CITIC Bank Corporation Limited (Zhuhai Branch) ("CITIC") for a loan facility of up to US$20 million (the "new CITIC Loan"). This will be used to repay US$20m of the CNMC Trade loan with an annual interest at 3.25% over 3 month LIBOR, which was extended on 26 March 2021 and is repayable on 26 November 2022 (see announcement dated 26 March 2021). This loan was first executed on 1 July 2019.

The new CITIC Loan facility is repayable 12 months from the date of draw down; and has an annual interest of 3.00% plus the average LIBOR rate over the previous 6 months.

The new CITIC Loan has guaranteed (as a standalone agreement) by China Nonferrous Metal Mining (Group) Co., Ltd ("CNMC") (the "Guarantee") in 2021. The Guarantee will expire on 26 January 2023.

There are no arrangement fees payable to CITIC, nor any fees payable to CNMC for providing the guarantee, for CNG.

Summary of Current Financial Position: At the current time, excluding the new CITIC loan outlined above, loans drawn down by the Company amount to c. USD$319 million, this includes US$99.55m of banking facilities (unaudited).

Cheers
Wan