China Nonferrous Gold Share Discussion Threads

[mattjos] 26/6/2020 11:48

ah, ok. Thanks for saying kingyon1.

That was split into two equal trades of 28,175 through the main market.

Seems to have left a maximum online offer of 3,750 shares at 15.9p & no price offered for any more than that.

Let's see if there is any action in the 12pm auction … probably not on a quiet Friday

[kingyon1] 26/6/2020 11:47

Can’t get anymore online with IWeb

[kingyon1] 26/6/2020 11:41

I just topped up with 56350, don’t have L2 so a bit of a shot in the dark at this spread.

[mattjos] 26/6/2020 11:38

can anyone get an online price to buy? I cannot

[mattjos] 25/6/2020 18:04

The Offer was 15.89 for those 13,000 odd all day but, in the last 30 secs before the auction i got them cheaper.

[mattjos] 25/6/2020 18:01

Going into the closing auction and immediately after the opening & 12pm auction, you can occasionally buy limited quantities at the cheapest price of the day.

[jeanesy] 25/6/2020 16:50

Looks like you have to pay more on NEX. Another day closer to that all important news.. next week hopefully !

[wanobi] 25/6/2020 16:29

all buys today :-) cheers Wan :-)

[mattjos] 24/6/2020 16:46

6-month closing high

[wanobi] 24/6/2020 16:22

thanx Mj, cheers Wan :-)

[mattjos] 24/6/2020 16:18

great price action. Bid is moving up to try and find some sellers and moving higher as a few sellers oblige but, only a paltry 40k released.

14.5p v 15.99p for 25k either way now

[jeanesy] 24/6/2020 15:23

Last bid at 14.5

[mattjos] 24/6/2020 12:51

that didn't last long!

Now back to 15.999p for any shares to buy but, online Bid now up to over 14p.
WINTS have now moved out to 18p !

[mattjos] 24/6/2020 12:17

weird … still same sell price of 13.655 but now there is a bit of stock come available at 15p … max online buy is now 15,000 shares at 15p.
Anything more than that is Negotiated only

[mattjos] 24/6/2020 10:41

order book has been gradually strengthening on the Bid side last couple of weeks. Now showing 33,941 at 13.1 & 50,000 at 13.0.

I can sell over 100,000 at 13.655 but, max online to buy is capped at 100,000.

That is way stronger than it has been recently. Don't think L2 is really showing the true underlying picture

[mattjos] 24/6/2020 10:10

am quoted 13.655 v 15.9999 for 25k either way

[wanobi] 24/6/2020 07:38

news must be soon here, right, any day now ?

Cheers
Wan :-)

[mattjos] 23/6/2020 22:44

Management have the funds for Phase II and, i think we can be reasonably sure, will be putting the hammer down now to get this expansion switched on as soon as possible. We're very clearly in a gold bull market & Gold looks to have just about every possible reason to keep running higher. Now is the perfect time to be going from 50koz to 100koz.

[mattjos] 23/6/2020 22:08

Hari, I posted here a few months ago that it would not likely be until the H1 2020 results before we see the necessary data.If we examine progress made by CNG in realising the mine and then compare to the route that would most likely have been taken by the previous management team (of which Cawkwell was a member), I believe most would agree that CNG's approach has been far better for equity holders.I believe that as the FY19 & Interim 2020 results come in this year, many of these points will become clearer but, I would also urge investors to ask such questions of the BOD. Such requests will help management frame their reports.

[hari] 23/6/2020 21:33

"I'd much rather have the $270m debt than 3.5Bn shares in issue."I totally agree with that .But it is difficult to give this a meaningful valuation / price over next 12 months . I would like to see more clarification on 1) yearly interest on $270m debt 2) when will debt start to be paid down 3) The AISC gold price . I know the Co is working on reducing costs further

[bo doodak] 23/6/2020 14:30

Really is surprising how little interest there is here yet. It is risky as there is obviously the debt issue that needs clarification, but take all the people salivating over GGP, plenty other type of risks in other ways with that, but people chasing it still. Top slice there and put some here I would have thought might be a good balancing option.

[mattjos] 23/6/2020 14:22

Gold now $1,765 & rising. The whole sector will be under the microscope by investors. H1 2020 results should really hilit the leverage here to pog

[mattjos] 23/6/2020 14:16

I'd much rather have the $270m debt than 3.5Bn shares in issue.
The debt has been used productively and is now generating a return far in excess of its cost.

Only have to look at the satellite images of Pakrut to see that this is a significant gold mine & they don't get built for pennies.

[hari] 23/6/2020 07:28

I think the market is looking for a turnaround from last results .
Last set of results were still negative with regards to losses and net assets .

On top of the the Co has borrowed another $30 , taking its debt to $270m
This is a huge figure.
What I would like to know is how much interest will be paid back yearly on this ?
I do not expect much of this loan debt to decrease this year.But the Year I would expect the Co to start paying it off .

I really think once the Co doubles its production, it will get noticed .
So looking forward , if the Co can maintain the production figures being expected here and ramp up over the next 6-12 months , then yes these figures will turn positive . But I guess the market is waiting to see that in black and white again before it is starts really-rates these shares.

From results

The Company continued its development and construction work during the first six months of 2019, Administration expenditure was US$8,164,099(30 June 2018: US$2,179,000). The big increase was due to the depreciation of the property, plant and equipment, more details of which are set out in note 5 below. The operating profit for the Group was US$278,000 (30 June 2018: loss US$3,363,000). Total cash equivalents at the end of the period for the Group amounted to US$16,147,939 (30 June 2018: US$61,896,000). As at 30 June 2019, there was a net liability of $1,363,000 (30 June 2019: net assets of $9,318,000). The net liability position has arisen due to CNG's Pakrut project entering into production from 1 January 2019, therefore the expenses relating to the project have not been capitalized but instead have been expensed, which includes borrowing costs. It is expected that after the production stage has stabilized, the associated increase in sales revenue will alleviate the negative net asset position.