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| 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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 68.53M | -287.04M | -0.7507 | -0.02 | 4.97M |
From Nov 2023 to May 2024
TIDMCNG
China Nonferrous Gold Limited
("CNG" or the "Company")
Financial Position
China Nonferrous Gold Limited (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, announces that it has received notice from one of its creditors, CNMC International Capitals Company II Limited ("CNMC International") that the loan it had provided to CNG of US$60.74m dated 12 July 2023 and which was due for renewal on 8 December 2023 ("The New Outstanding Loan"), will not be extended. Instead CNMC International has today demanded that CNG repay the New Outstanding Loan on time and without delay; and furthermore, CNMC International has confirmed it does not intend to provide any extension to this timetable.
At today's date CNG has a cash balance of US$3.20m and loans of US$314m, all of which is due for repayment within the next 12 months. The Company therefore does not have sufficient cash available to pay the amounts requested nor do the directors believe CNG has the ability to source additional funds in the time frame set out by the demand.
Further announcements will be made as and when appropriate.
For further information please visit the Company's website (www.cnfgold.com) or contact:
China Nonferrous Gold Limited
Feng Zhishuo, Managing Director
Tel: +86 10 8442 6627
WH Ireland Limited (NOMAD & Broker)
Katy Mitchell, Andrew de Andrade
Tel: +44 (0)207 220 1666
BlytheRay (PR)
Tim Blythe, Megan Ray
Tel: +44 (0)20 7138 3224
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
View source version on businesswire.com: https://www.businesswire.com/news/home/20231220479464/en/
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China Nonferrous Gold Limited
SOURCE: China Nonferrous Gold Limited
Copyright Business Wire 2023
(END) Dow Jones Newswires
December 20, 2023 09:29 ET (14:29 GMT)
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