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CNG China Nonferrous Gold Limited

1.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
China Nonferrous Gold Limited LSE:CNG London Ordinary Share KYG215771042 ORD USD0.0001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.30 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 68.53M -287.04M -0.7507 -0.02 4.97M
China Nonferrous Gold Limited is listed in the Gold Ores sector of the London Stock Exchange with ticker CNG. The last closing price for China Nonferrous Gold was 1.30p. Over the last year, China Nonferrous Gold shares have traded in a share price range of 0.48p to 2.78p.

China Nonferrous Gold currently has 382,392,292 shares in issue. The market capitalisation of China Nonferrous Gold is £4.97 million. China Nonferrous Gold has a price to earnings ratio (PE ratio) of -0.02.

China Nonferrous Gold Share Discussion Threads

Showing 2401 to 2423 of 3175 messages
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DateSubjectAuthorDiscuss
30/6/2021
11:06
Total cost per ounce is estimated to be $780 with Gross Margin of circa 60%.
Gold revs over the future periods have been estimated at $1,600/oz

mattjos
30/6/2021
10:39
Current Mkt cap is $40m at current mid-price
mattjos
30/6/2021
10:26
At first blush … things are clearly improving.

Net Debt at 31st December was $361,545,000

Port Period End they report having repaid $20m to CNMC Int. Capital Co. Ltd. & also repaid $9.26m to CNMC Int leaving a total debt position (inc. banking facilities) of $319.5m

Net increase in Cash for the Full Year was $16.075m ($2.757m previous year)

mattjos
30/6/2021
09:34
It was reported in the local press March 2019 that CNG had met with the Ministry of Industry & New Technologies & that Pakrut plans to increase production to reach its design capacity.
Pakrut is actually the second biggest gold producer in Tajikistan just at stage I

July 2019 Pakrut issued a tender for the construction of the foundation of the "Coal in pulp" facility. Content and scope of the tender: "construction of the foundation for the project "coal in pulp" , 2000 t / day (Presumably CIL circuit)

March 2020 Pakrut issued a tender for the "Technical reconstruction of the first pumping station" (presumably is in some way related to increased processing volumes).

mattjos
29/6/2021
18:21
someone paid a small premium to the 7.3p Offer price for £9k of stock at 15:35.
The late reported 121,823 trade was actually a Buy & which immediately sent the Offer up to 7.9p

mattjos
29/6/2021
15:23
Looking at early 2023 at gross prices and mid 2024 for full dept clearance or sooner with a healthier gold price.Expect to see a slow but steady share price increase from now on.
eke
29/6/2021
15:20
I assume what folk do have an interest are simply hanging back waiting on the FY Results and commentary with regards Phase II simply because it has proven impossible to accurately predict anything whatsoever with regards the company + there is never any sign of it being a 'leaky boat'.
Presumably though, at some point in time, CNIM will deem it beneficial for the PR & IR to improve - 'culturally' once they have achieved & implemented Phase II & the debt reduction process is in progress likely to be the time.

mattjos
29/6/2021
15:16
To get this share moving we need a positive phase 2 update and phase 3 exploration announcement.Patience for some is running out I think.
eke
29/6/2021
14:44
market sound asleep here … this is so far off investor radars, it may as well be invisible & yet this is the strongest position the company has ever been in
mattjos
29/6/2021
13:27
the finances are gradually straightening out & debt rescheduled at lower interest rates.

It's now 30 months since the company stated Phase I had been connected up and was running at 2,000t per day.
The original Mine Plan was that Phase II came on-line 30 months after Phase I & would then ramp over a further 6-month period to the full capacity.
To what extent Covid has impacted all this, we have absolutely no idea & must wait for management commentary … & that may simply be an 'Out of the Blue' RNS one day saying that Phase II is now online (just as Phase I was announced).

The fact that they are able to make progress on the debt & to refinance it at lower rates is surely a +ve sign that progress is deemed satisfactory by both CNIM & the lenders.

Main thing is the company has a cash flow from the mine and has done so now for over 2 years.
It's big resource at Pakrut, a huge mine and processing complex & there are other known deposits in/around the area. As frustrating as the waiting has been since CNG took over and the dramas with the avalanche, the power lines, & now COVID, I'm quite sure we'll get to Phase II …. & it' only then will it become apparent to all exactly how quickly the resulting cash flows should be able to repay the debt.

mattjos
29/6/2021
12:24
Phase II output is planned to deliver 100koz per annum
mattjos
29/6/2021
10:46
I think/hope they're getting a bit more cashflow positive now with their latest repayment of nearly $10m, may be production is on target too..
novicetrade68
29/6/2021
10:34
Financial Update


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:


Repayment for part of loan with CNMC International Capitals Company Limited


The Company is pleased to announce it has repaid US$9.26 million (RMBYen60m) of its outstanding loan with CNMC International Capitals Company Limited ("CNMC International") in accordance with its terms. It has been repaid from existing cash resources. The total outstanding loan facility with CNMC International was US$70 million (the "Loan") and accordingly US$60.74 million of the Loan is now outstanding. As set out in the announcement, dated March 26 2021, repayment of this balance of US$60.74 million is due on or before the end of December 2022.


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).


For further information please visit the Company's website (www.cnfgold.com) or contact:


China Nonferrous Gold Limited

novicetrade68
23/6/2021
16:10
weird how another piece of good news is met with sell off in the price intra-day.
Debt is unchanged:

23.06.21
"Summary of Current Financial Position

At the current time, excluding the BOS Loan outlined above, loans drawn down by the Company amount to c. USD$328 million, this includes US$99.55m of banking facilities (unaudited)."


26.3.21
"The Company has total debt facilities (including banking facilities) of c. US$328m at this current time (unaudited).

But all the debt is being re-financed at lower interest rate ….. banks don't refinance debt at lower rates if the risk perceived by them to have increased …. interest rates on debt are lowered as a consequence of the risk profile reducing / having reduced.

Yes, CNIM is still having to stand as guarantor on the debts & that is of course assisting with the re-financing process.
Investors should surely take heart from CNIM's continued support for the mine & the ability to refinance the debts at lower rates.

Anyway, the wait goes on for results (which I assume will have already been shared with the banks prior to the re-financing contracts being signed) & news on progress re. Phase II.

We are at least advised that Operations continue to be unaffected by Covid & that unless we hear to the contrary, that remains the situation at the mine.

mattjos
23/6/2021
14:45
That is correct

But debt now stands at $328+$66m =
$394m

Has it gone up since I last checked ?
I have lost what we said the last debt figures were

hari
23/6/2021
09:49
Correct me if I'm mistaken but that looks like a reduction in borrowing costs on $65mil. The previous Macau loan to be repaid was at 2.1% plus 3 month libor.
bushtuckaman
17/6/2021
10:57
had a few more … still plenty of headroom for the mine with gold anywhere over the expected $1,250/oz & not often the spread this tight at circa 5%
mattjos
03/6/2021
17:04
Hari, you have to get used to these often very wild swings in valuation with junior mining entities. The pre-production ‘hope’ phase is very often a time of elevated valuations which subsequently come crashing back down as the reality of the timeline and inevitable problems of startup dawn on investors.
It’s exactly at these lows, when the sentiment is overall still bearish & folk can’t see any immediate reason to buy that those more familiar with such things are indeed buying in the background.
Then, as if by magic the sellers at those low levels are exhausted and the share price springs up .. causing the inevitable ‘what’s going on here, surely it’s still not worth buying response’ & the general audible bearish tone simply persuades a few more to bail out, albeit now not quite at the lows.
Once that stock finds a new home, we move ahead a little further etc etc ... by the time the audible commentary turns bullish, the price is likely 100-200% up off the lows & then the subsequent buying pushes it further ahead.

Let’s see how we go but, i am not ruling out near ATH’s here before the year is out.

mattjos
03/6/2021
16:32
like to think I'm a refreshed & rejuvenated bull here Mj :-) LOL
Cheers Wan :-)

wanobi
03/6/2021
16:28
"April 2016, the mkt cap here reached $217m .. on the basis of what 'might be'Today (at 8p) the current mkt cap is $43.4m ... with the mine now built, in steady-state Phase I production and Phase II due"the thing is in April 2016 the Co was grossly overvalued, so not really relevant
hari
03/6/2021
16:19
Got rid of some more stale bulls here today
mattjos
01/6/2021
19:58
It will clock it after some point wanobi .. at least those that bother to read beyond the headlines.CNIM are not fools .. they are pulling the strings behind the scenes here & what they have achieved in term of building the mine, interest rates on the debt and the depreciation methodology are most impressive .. far beyond the ability of 99% of most AIM listed management. The business is now well set .. operational delivery to plan, at these gold prices, is soon going to be irrefutable, particularly at these Good prices.We'll be back on exploration this time next year and then we'll start to see what else we have on our doorstep .. with luck some higher grades just up the road at Rufigar.
mattjos
01/6/2021
19:36
mister market is a fickle creature Mj :-) fingers crossed it begins to see the light,,,, Cheers Wan :-)
wanobi
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