China Nonferrous Gold Share Discussion Threads

[bmcb5] 09/4/2021 15:14

picked up a few more, while the price was soft

[ironstorm] 31/3/2021 08:00

Have to admit it was a better RNS. But as you say no reason to rush on board.

I might re-join, just not yet!

[danmart2] 30/3/2021 21:18

My thoughts from the RNS - positive but a long road ahead

[mattjos] 30/3/2021 20:48

& noticeable pick up in volumes so the buyers and sellers seem closer together in their respective judgement on value

[mattjos] 30/3/2021 20:47

I thought last RNS was pretty good news to be honest. Am interested to see if this selling is tax year-end related or gold price related or other.At least the spread is getting better

[mattjos] 30/3/2021 15:50

it's old photo

[kingyon1] 30/3/2021 15:09

Crikey, is that the workforce down there. Not much social distancing going on😬

[kingyon1] 30/3/2021 10:20

Still a lot of juggling about of shares here. Someone accumulating or ISA reshuffling?

[novicetrade68] 26/3/2021 15:04

Good to read the debt has gone down, more or less suggests they're now profitable on all levels.

[mattjos] 26/3/2021 15:00

every little helps … That net $2.7m saving on the debt is more free cash for either repayment of principal or further investment in the mine.

I believe Pakrut has firmly passed its nadir & this update indicates the main lender has concluded same.

Presumably the main lender will also be in receipt of FY20 production & financials & data from 2021 YTD.

Whilst we'll have to wait for the market update, it seems likely they will be satisfactory.

Meantime, we wait to hear about progress on completion of Phase II this year - which I have pencilled in for circa May/June

[mattjos] 26/3/2021 14:18

Good update … cost of Debt reducing now:

$126.5m from LIBOR+3.7% to LIBOR+3.25%
$20m from LIBOR+3.7% to LIBOR+3.25%
$80m from LIBOR+5.8% to LIBOR+3.25%

US$ 3-month LIBOR is currently circa 0.2%

So they are saving 0.45% on $146.5m = $659,250
& saving 2.55% on $80m = $2,040,000

Total reduction in interest rate of $2.7m per year

Whilst CNM may be the largest shareholder and financial backer of CNG, they will also have their own internal risk management function & extension of loan and reduction in interest rate will only have been achieved if the risk was perceived to have reduced.
Good news, afaic

[danmart2] 18/3/2021 19:38

One is hopeful, but not expectant.

Phase 2 should be the debt loan game changer.

[novicetrade68] 18/3/2021 15:33

Given they managed to reduce their debt by $20m perhaps the results are going to read very decent, fingers crossed.

[danmart2] 16/3/2021 18:17

An update will surely come by the end of March, but no reason why it shouldn’t have come already for 2020 results.

[mattjos] 16/3/2021 17:29

for the last 12 months, when/if stock has come up showing as Offer 9p or under, it has been bought by the market and those opportunities seem to be becoming shorter and shorter duration.
That cannot persist for ever as the 'free-float' is just not that big.

I believe we can conclude that as / when the company does finally put out some sort of update that is greeted with enthusiasm, buyers will clearly have to pay more than 9p for the shares. In the meantime, I assume the 'fishing' for stock under 9p will continue according to how bored remaining shareholders become.

Would be good to hear exactly what progress has been made towards completion of Phase II but, for whatever reasons (may very well be cultural), the company is just tight-lipped.

[mattjos] 16/3/2021 13:48

with CNG, one simply never knows.

[danmart2] 16/3/2021 13:31

When do you think we will get a production update?

[mattjos] 16/3/2021 09:52

Whoever the buyer is slowly amassing quite a holding. Cleaned out the seller in 30 mins and now 8.75p bid

[mattjos] 16/3/2021 09:28

Tiny spread today

[danmart2] 16/3/2021 07:06

Production update is due for 2020

Last hydrometer update 30/09/20
Last year end update (for 2019) was 09/02/20

[mattjos] 10/3/2021 13:46

That did not last long

[mattjos] 10/3/2021 13:34

Finally! Sensible spread

[mattjos] 03/3/2021 16:42

the buyer keeps gradually amassing a growing haul here & simply increases rate of acquisition when the price drops but, using streams of seemingly insignificant individual trades to do so

[danmart2] 02/3/2021 21:41

Mattjos - that is the last time I believe a certain contributor on the LSE site.

In terms of today’s announcement not a lot.

Mildly positive a small chunk of the overall debt has been paid but still a long way to go with addressing the debt.

Negatives
The CNMC $70m loan extension has still not been addressed
The overall $328 debt not really addressed
No performance update, no Part 2 of Pakrut update

Shareholders can expect a long wait to see if this is yet another Chinese AIM company that fails or a success story.