China Nonferrous Gold Share Discussion Threads

[novicetrade68] 11/5/2018 12:10

UKG, the new CFO here is effectively a CNMIM-plant, imo all the previous RNSes confirm this, CNMIM lends/refinances whatever CNG requires. I think the chart is a bit misleading now since 396 shares hit the 11.7p bid, if there are no further trades today then this will close at mid-price. It's still 12.88p to buy and one can still not buy many for that amount.

[ukgeorge] 11/5/2018 12:02

I'm amazed any PI's are still in this, I was a shareholder about 4-5 years ago production was always just a few months away then.....

The chart obviously looks dire are they needing to raise cash?

[wilmot] 11/5/2018 11:31

Good luck with getting any insight from the company. This is the worst company in my portfolio by far in terms of communication to shareholders. They don't seem to care.

[eke] 10/5/2018 15:28

Its been my concern also.I would like to know from the company what structural modification have been put in place to counter damage from another potential avalanche. This might be digging ditches,constructing barriers (like the Thames Barrier) to prevent water ingress to vulnerable parts of the mine. May be the Insurance company may insist its done before they will provide cover.I have been holding for many years as a long term Investor. Not yet convinced be have reached a bouncing point but there seemed to be some buyers at 12.5p yesterday.

[novicetrade68] 10/5/2018 15:11

roguetreader, good point, I guess the comparison with MML is a bit apples and oranges.. maybe CNG will be spared a year or two regarding these avelanches, wouldn't that be nice ;-) it's been a long time coming here...the risk of being situated in a valley will probably be a constant hazard here...on the other hand, I do think a bounce is at last going to be imminent here, for only 10k shares they already charge above the offer (12.999p), but then again we also have an impatient 10k afternoon seller still here I think ;/

[roguetreader] 10/5/2018 14:58

NT68
I take your point, although MML have been an operational producer since 2004 and to my recollection have only incurred relatively minor interruption to production as a result of cyclones (flooding) over this period. Maybe CNG have just been very unlucky. I tend to buy and hold (to a degree), so December 2018 isn't far off from my investment perspective. Will keep a watch here and see how they progress.

[novicetrade68] 10/5/2018 14:46

Maybe CNG is just going to live with the risk of avelanches, I bet their insurance is not going to come cheap in any case based on only the history here. In a way it reminds me of Medusa Mining who operate in a cyclone area in the Philipines and so when it strikes, then it strikes I guess and it will be just too bad for shareholders.

On the other hand, isn't the risk of these avelanches especially high around Dec-Jan-Feb time? That's a long way off. It has however puzzled me the share price has still been falling despite the recent positive RNS. MCAP only £46m atm, for a mine set to produce 120k/annum - obviously with risks attached.

[roguetreader] 10/5/2018 14:25

I have run through the RN's issued since 2015 as there was an avalanche in 2015 that impacted development and then in 2017 the more serious avalanche / landslide. They now look to be recovering from the most recent event and have got some financial protection in the way of insurance, with their production and mine development now progressing. However, my concern is that I can find no statements of any risk mitigation that the management are putting in place to counter any future avalanche / landslide problems, should they occur. The only statement from the updates was that the 2017 event was a one in 50 years event. Even if the 2015 event was not as serious as 2017, there have been two events in the space of two years. As a result I would have expected some statement from management as to their risk policy on these from an operational perspective. Insurance alone is surely not sufficient. Otherwise this looks to have potentially significant positive risk / reward at these prices. Any long term investors / watchers care to comment or correct me if wrong?
RT

[c9ajl] 30/4/2018 08:16

Continuous efforts have been made by the Company to fully resolve the operational issues caused by avalanches and landslides in early 2017. The collapsed electric towers have all been re-established, and the damaged buildings and equipment have been repaired. The current road to the Pakrut gold mine project has been restored to its normal condition, and power supply is now available. Construction progresses steadily, and production has already recommenced:As of this announcement, a total of 21,270 cubic meters of excavation work has been completed in the level of 2350m/2230m/2110m. The mining operation has recommenced and 50,000 tons of ore have been extracted.The processing plant has completed its equipment overhaul and workshop maintenance, and has already commenced production.The smelting plant has also been well prepared and is expected to be back to normal production by May 2018, subject to the production of gold concentrate. The whole Pakrut Gold Project is expected to be completely restored to normal production by then.The construction of the Pakrut Gold Project is also progressing well. The construction of underground projects such as ventilation systems has been underway throughout the whole winter. It is expected that the ventilation system engineering excavation and equipment installation work will be finalized by the end of September 2018. In early April 2018, the construction of surface works such as the tailing pond, backfill station and camps has commenced and all the equipment required for the backfill station has arrived at the site. The overall construction of all projects is expected to be completed during the fourth quarter of 2018.

[eke] 18/4/2018 12:52

Something is going on.....Volume has hit the roof!

[novicetrade68] 05/4/2018 15:15

Yes, not a great look I agree. I guess we can only hope this is now close to the bottom. If all goes to plan hopefully restart of production soon, the weather in Tajikistan has been pretty decent over the past few weeks.

[abacus23] 05/4/2018 15:12

Chart is awful. :(

[abacus23] 05/4/2018 15:12

Demoralising considering the potential.

[novicetrade68] 05/4/2018 14:49

I wonder who this persistent 10k seller is, seemingly bailing at the lowest bid on a daily basis and always only one trade, but each to his/her own of course. MCAP now only around £50m.

[novicetrade68] 05/3/2018 14:31

I think these deadlines, as in the past, can move once CNG is delivering something ie restarting production, hopefully soon. I do think now we have a new CFO from very close to CNMIM they will support the company as long as till it becomes financially self-sustainable...I hope so anyway!

[eke] 05/3/2018 14:22

Well received by the City.Production to resume in the next few months which is a positive statement.Watching the weather now for anything which could throw a Spanner!

[mark of the rushes] 05/3/2018 14:14

"The CNMC Loan is valid for 3 years and shall be repayable on 8 February 2020."

That is a typo I presume.

[eke] 01/3/2018 14:14

If the company can escape another bad weather disaster we would expect an share price rise leading up to production.Its just a matter of time.Most of us long term holders have patiently waited for production news and will continue to hold until that happens.Any good news will send this share price only one way

[abacus23] 01/3/2018 11:54

I'm still in.

Producing soon, it must increase.... hopefully. ;)

[novicetrade68] 01/3/2018 11:22

Anyone else buying in here lately? Seems to me the share price is at absolute car crash levels, with good reason obviously, but this is still going to be a 120k-140k gold producer starting, as per the last RNS, somewhere in H1.

[novicetrade68] 22/2/2018 18:33

It's better weather in Tajikistan than here, but they said they would target gold production in H1-18, maybe they're ahead of schedule all of a sudden, but that would frankly surprise me. Or it could be an update on the insurance claims.

[eke] 22/2/2018 18:21

Large volume and activity after 11 o'clock.
Good news coming, Finally !?