China Nonferrous Gold Share Discussion Threads

[hari] 09/2/2023 19:09

Mattjos

They have no regards for shareholders and creating shareholder value

I do not know why they have listed themselves on the stock market in the UK

[zhockey] 09/2/2023 17:11

What stage of development are they at with the mine, hard to gleam anything from the website. Oz produced/AISC etc?

[mattjos] 01/2/2023 21:01

this only has to pay off $1.5m of Debt to raise its current Mkt cap 10%.
It's so hugely levered to POG and Gold is on a tear

[wanobi] 26/1/2023 12:38

Still holding, not sold any,,, not sure why!!! LOL GLA, Cheers Wan :-)

[celeritas] 26/1/2023 11:34

Still a large spread then of just under 23%

[mattjos] 26/1/2023 11:23

2.8681 V 3.59 FOR 100K either way

[celeritas] 26/1/2023 11:12

trader, is that the real spread, maybe a holder could check..

[trader465] 26/1/2023 11:11

The 25% spread is enough to put anyone off from buying

[celeritas] 26/1/2023 10:57

I'm not a holder here and was asked to look at cng... The company is pretty opaque with very little news but I agree with what a few are saying here, if the company can pay that debt down is should transfer to the share price, for that the obvious needs to happen, Gold needs to go on a run... I can't say I'm interested in buying any because it just looks like a nice little earner for the banks as it is, when will shareholders get their chance in the sun..

Reports are hard to understand especially with various loans all over the place, best to look at other loan agreement news..

24th Jan 23
Summary of Current Financial Position

At the current time, excluding the loans outlined above, loans drawn down by the Company amount to c. USD$318.48 million, this includes US$85m of banking facilities (unaudited)

6th April 22
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).


The main difference being the banking facilities..

[dvwrd] 25/1/2023 16:31

Yes, that’s how I interpreted it Mattjos but as you say it’s far from clear. I keep adding a few now and again whilst it’s at these levels. If that debt is starting to come down and with pog doing it’s thing then I’m happy to play the waiting game.

[mattjos] 25/1/2023 15:52

At the Half Year report, they advised:

Bank Borrowings: $85m
Other Loans: £287,740,000
Total: $372,740m

of which:

Non-Current: $65m
Current: $307,740,000

In yesterdays update they advise:

"At the current time, excluding the loans outlined above, loans drawn down by the Company amount to c. USD$318.48 million, this includes US$85m of banking facilities (unaudited)."
The loans outlined above were for a new $20m loan to pay off an existing $20m so, I am assuming the value of loans above is a straight $20m

Adding $20m to $318.48m we get to $338.48

On the face of it, there appears to be a reduction in overall debt of some $34m but, I do stress 'on the face of it' as their way of reporting things is very 'Chinese' &, frankly, almost unintelligible at times.

[hari] 25/1/2023 15:51

A slight reduction in debt.
But i noticed this loan is only for a 3 months period, so will have to refinance again then?

[mattjos] 25/1/2023 14:18

Anyone else done a comparison as to the reported debt here according to the Half Year Report and the figures stated yesterday?

At first blush, there seems to have been a notable overall reduction in total debt but, I freely admit that it's not necessarily immediately obvious or clear as the company does not consistently use the same format for reporting such matters … it does in the formal Accounting statements but, any interim news items they use a different mechanism to reports such things.

All rather 'oriental' at times.

Anyone else care to have a stab at comparing July Interims with yesterdays update and see where they get to?

Anyway, the parent remains supportive and the cost of debt is still very low as compared to if they did not have such backing.

[wanobi] 19/1/2023 15:01

25% spread now t465,,, grrr,,, LOL,,, grrr,,,, doesn't help though does it Mj :-)

GLA
Cheers
Wan :-)

[fozzie] 13/1/2023 09:30

Spread is 2.9 - 3.6 and therefore totally untradeable for me at the moment.

[volsung] 13/1/2023 08:54

Famous last words…

[bazboa] 12/1/2023 11:18

Bid has finally improved....can't stay this low forever especially with POG on the up

[danmart2] 03/1/2023 23:10

Interesting

As for CNG, what a major disappointment

Still no further development of the site, phase 2 should have been up and running by now to help pay down the debt