China Nonferrous Gold Share Discussion Threads

[mrmark1] 25/3/2023 11:22

https://twitter.com/stockboxmedia/status/1639583002069176320?s=46&t=mQ4hcOzqn7djEsIh_6L7DQ16.5mins review

[mrmark1] 24/3/2023 17:11

Illiquidity works both ways - was over 3p to buy a couple of months ago and now 1.6-1.8p.76% in TR1 hands including the ChineseState. Debt will always be worked because of Chinese need for physical Gold. News? Production from last year which was on track and restart of production will be two positive and powerful RNS's.M&A would be great for 2023 - GL

[wanobi] 20/3/2023 20:08

Voxmarket podcast today, 21.18min for CNG



(thanx to pogue for finding this)

Cheers
Wan :-)

[mattjos] 20/3/2023 09:28

I am thinking this stament is tied up with decision to go to Phase II of production:

"In addition, the Company confirms it has signed a service agreement for a review of the resource estimate of the Pakrut Gold Mine by SRK (SRK Consulting China Co., Ltd.). Given the geologically and complex nature of the Pakrut deposit, SRK have been engaged to review and, where necessary, update the resource estimation of Pakrut Gold Mine utilizing mining and production data. Further updates will be provided once the result of this review is available."

[mattjos] 17/3/2023 15:03

not such a bad time to recommence operations with gold pushing on towards $2,000/oz

[elpirata] 16/3/2023 18:47

late RNS out, power reconnected & road access next week

sp might spike tomorrow but Im staying out, too much debt risk/illiquidity

[jbravo2] 02/3/2023 12:11

Ok cheers hari
I’m calm thanks :D
Just for your future reference there will be lots of people (culprits?) who post on a particular board and then cease posting on it when they’ve sold or moved on etc.
Don’t let it cause you angst.

[hari] 01/3/2023 13:14

Mattjos Unfortunately after all your amazing analysis , one cannot predict another avalanche. Even without it , it was gonna be a long haul You win some , lose someGL

[hari] 01/3/2023 12:28

Jb2Calm down . I sold mine a while ago , I have no bitterness on making a small loss .. it was my call .I always had issues with the large debt . It is all documented here I can see AAZ investors tend to follow investments , so maybe you are being protective With regards to the culprits I was referring to the posters on 1562/1576 posts

[beeks of arabia] 01/3/2023 09:57

Sold for a painful loss.Will see where things go before reinvesting.

[wanobi] 28/2/2023 15:25

thanx Hari,, AAZ is a LTH for me, so just adding to my sizeable (for me) position :-) Cheers Wan :-)

[hari] 28/2/2023 13:57

Hi WanYou are not one of the culprits btw :-)Good luck with AAZ , I have that on my monitor too. It looks to be one hold for decent returns into 2024

[wanobi] 28/2/2023 12:32

I sold on the news Hari,, put the cash into AAZ :-),, lost a fair bit though, has to be said,, hmm,,, we live and learn :-)

GLA Cheers Wan :-)

[hari] 27/2/2023 10:19

You are right there , this is very bad news for cash-flow now .Beginning of the end or a big increase a debt again .I see the previous culprits have suddenly gone quiet

[elpirata] 27/2/2023 09:55

That $20m CNMC 3 month bridging loan taken out in January (to repay a CITC loan) is due for repayment by 23 April. How can CNG avoid defaulting on this if production & cashflow have dried up, other than by yet a further refinance which would be entirely at the mercy of CNMIN?
Theres now a material risk that the Chinese will get the prize & shareholders will be wiped out in 2 months time imho.

[elpirata] 23/2/2023 19:30

last time this happened it took them the best part of a year to restore the power supply and infrastructure/access. With last years exceptional tax grab its more of a bottomless money pit than a gold mine. At least it works for the Chinese funders who continue to clean up on interest from the revolving loans.

[ned] 23/2/2023 16:00

Looks like a few have been tempted in!

[hari] 23/2/2023 15:19

oh dear..there goes meeting full year forecasts.

And possibly more debt needed to get through this year.

Weather risk is always out of their control, which makes this higher risk than most

Uninvestable this one

[rawroast] 23/2/2023 15:07

Just as I was looking forward to more loan news. Because that never gets old!

[wanobi] 23/2/2023 14:38

Hmm, wondered what was going on!!!

Snowfall impacts production at Pakrut Gold Mine

China Nonferrous Gold Limited (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, announces the area surrounding the Pakrut gold mine site has experienced high levels of snowfall resulting in several avalanches and landslides.

The Company is pleased to report that there have been no casualties at site and the Pakrut site itself remains undamaged. However, the avalanches have damaged one electric power transmission tower that supplies the mine resulting in a consequential interruption of the power supply. In addition, the roads to the site have been damaged. The lack of power means that the underground mining and the processing plant have been suspended with immediate effect. It is anticipated that operations will remain suspended for approximately one month although further updates will be provided in due course, as appropriate. The smelting plant is currently operating and processing existing stocks of gold concentrate, however this operation will also be suspended from 28 February 2023 until the power issue is resolved. Accordingly, the Company confirms there will be no production at site for at least one month with a consequential impact on revenues and financial results. Further updates will be provided once the power to site is restored.

The Company has deployed emergency maintenance teams to the area to urgently carry out repair work on the road and to recover the power supply facilities.

The full impact of the avalanche and recovery work are still being evaluated and the Company will provide an update in due course.

Cheers
Wan

[mrmark1] 16/2/2023 17:08

76.5% of the company is in TR1 hands.The Chinese state company owns 38% alone.There is very limited stock in free float and so the price can rise as quickly as it has fallen.I'm now watching closely again with a few sells and I'm sure others are too.

[hari] 09/2/2023 19:55

Results ending June , reported in September

The Company currently has total debt facilities (including banking facilities), before interest, of c.US$319 million.

January last month

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).

Add the $19.5m loan

Makes an increase of the total debt to $337.98m

Let’s not forget

Cash and cash equivalents at the end of the period amounted to US$11,791,206 .
As at 30 June 2022, the Group had net liabilities of $31,304,559 (30 June 2021: net liabilities $21,518,316).

Try to think what there you like in these figures .
They are crippled with several loans , rolling and higher rates
Reading the 2nd half forecast , it looks they have challenges to achieve their full year targets

What’s happened to phase 2 expansion , not a mention for a long time .

Maybe someone buying at these levels can make a profit but cannot see double figures for a long time unless Gold shoots up to $2500+

[hari] 09/2/2023 19:10

I mean for a producer AISC will be known by now
Forget about reporting quarterly
They are not interested