China Nonferrous Gold Share Discussion Threads

[griffin4] 29/4/2014 15:24

They certainly will have the rights just as before, CNG relationship is very good with the Tajikistan government you wait and see guys.

[zboy169] 29/4/2014 15:24

I'm sure its just a oversight - probably to do with change of control at the company...they will get the license shortly no doubt
Zb

[cp42kx07] 29/4/2014 14:07

Perhaps they're not confident enough to release them as they're no longer certain whether they have the rights to explore in many of the drilled areas!

You couldn't make it up could you... (:


CP

[zboy169] 29/4/2014 13:31

hmmmm - where are those drilling results then?

[cp42kx07] 17/4/2014 18:04

Perhaps 17 April is April Fools Day in Tajikistan?

Not a disaster but nevertheless annoying. No doubt some bureaucrat or politician is in need of a new Merc.

Do CNMIM have enough clout to get the PLA to invade?


CP

[abacus23] 17/4/2014 12:18

I believe this is the most important line.

"and the Company still expects to commence production at the Project in the fourth quarter of 2014"

We can't be stuck at 28p, when we are producing, surely not.

[c9ajl] 17/4/2014 12:16

My thoughts were 'how does this impact the summer drilling period... up to the point it starts to snow'. I presume the drilling has stopped now until the new exploration licence is in place?However, in the big scheme of things resource upgrades are not as important as commissioning the mine by Q4 2014.

[abacus23] 17/4/2014 12:06

Initial thoughts were, oh dear.

But after reading it again, mine continues, gold this year, licence until 2030.

Its just the exploration. I presume this will be sorted shortly.

[c9ajl] 17/4/2014 12:03

17 April 2014China Nonferrous Gold Limited(?CNG? or the ?Company?)Exploration LicenceChina Nonferrous Gold Limited (AIM: CNG), the mineral exploration and development company currently developing the Pakrut gold project in the Republic of Tajikistan (the ?Project?) announces that, whilst the necessary documents have been submitted in accordance with the required procedures to renew the exploration licence granted to the Company?s wholly-owned subsidiary LLC Pakrut by the Government of Tajikistan in April 2004 (the ?Exploration Licence?), the Company has been informed that the Exploration Licence has expired. The renewal application is being considered by the Government of Tajikistan and the Company are working with the Government to ensure it is renewed as soon as possible.The Company?s mining licence for the Project, which covers an area of 58.6 hectares including the Pakrut gold deposit area (the ?Mining Licence Area?), is still valid and in good standing until its expiry in November 2030. Construction of the mine and relating infrastructure continues at Pakrut and the Company still expects to commence production at the Project in the fourth quarter of 2014.The Exploration Licence gave the Company the right to carry out geological prospecting and exploration work over an area of approximately 6,300 hectares (the ?Exploration Licence Area?). The Exploration Licence Area includes the Pakrut, Eastern Pakrut, Rufigar and Sulfidnoye gold and mineral deposits and occurrences.

[cp42kx07] 17/4/2014 08:18

G4Hopefully not but I do find the similarities between names surprising (and unnecessary).It feels as though we have had a seller here for some time now (albeit controlled). It would be good to have the 2013 drill results RNS with a clear timetable for HK to give us a chance to move forward again.At the moment this feels like the Chinese water torture - drip, drip, drip...CP

[griffin4] 16/4/2014 23:03

CP, don't think there will be any confusion, we are Nonferrous Gold, The other two are Nonferrous Metals etc..

[cp42kx07] 15/4/2014 13:20

Does anyone have any thoughts on the following points?

CNG (China Nonferrous Gold) is now 38.5% owned by
CNMIM (China Nonferrous Metals International Mining Co) which is part owned by
CNMC (China Nonferrous Metals Mining (Group) Co).

08306 (China Nonferrous Metals Co) is a company listed on the HK stock exchange.

To the best of my knowledge CNMC is not connected to 08306 despite the close similarity in the name (although perhaps not so in Chinese). Are they unconnected?

If they are connected then to what extent could any problems at 08306 effect CNG (via CNMIM)?

If they are unconnected then could any such problems effect CNG if investors (incorrectly but understandably) believe otherwise (especially after the HK listing)? Also, if unconnected, why would someone (presumably at CNMIM) have chosen the CNG name when this could lead to cross-contamination from poor performance at 08306?


CP

[ned] 10/4/2014 20:38

China Nonferrous Gold Ltd.Attended "Mines and Money Hong Kong 2014"

[carlos panda] 03/4/2014 11:12

I get the impression that someone has been very gradually unwinding a position here over the last few weeks which seems strange timing as we await the 2013 drilling results (imminent but probably not overly exciting) and details of HK (perhaps June or July prior to a September listing?).


CP

[zboy169] 26/3/2014 15:07

tell me about it - almost immediate that!

[carlos panda] 26/3/2014 14:22

Zboy169

Tempting fate!


CP

[zboy169] 26/3/2014 11:47

nice to be back above 30p

[ned] 14/3/2014 20:54

Well spotted PW99.

[zboy169] 14/3/2014 14:25

Gold keeps going up....wish CNG would follow!

[griffin4] 14/3/2014 10:27

Thanks PW, that's probably why we have had some large size buys every morning this week.

[pw99] 14/3/2014 10:03

FULL DISCLOSURE: THIS HAS BEEN POSTED BY CHINA NONFERROUS GOLD LIMITED'S FINANCIAL PR AGENCY.

Hume Capital today initiated on China Nonferrous Gold Limited with a BUY recommendation and a 65.9p target price.

Advancing to Production

With production to begin in Q4 this year we believe China Nonferrous Gold ("CNG") offers a relatively low risk opportunity when compared to other Central Asian gold companies. We value the company at £251.3m or 65.9p/share, which at today's share price looks particularly undervalued (~54% undervaluation). BUY

Development Progress

Work at China Nonferrous Gold's ("CNG") Pakrut Gold Project in Tajikistan has been progressing well with completion due before the end of the year. A depth of 600m out of a total depth of 1,800m at the main decline has now been reached and the west ventilation access decline has now extended to a depth of 285m from a total 520m per the mine plan. In addition, construction work on vital mine infrastructure such as access roads, bridges etc are nearing completion and construction of the electricity power line is now due to be completed by the end of September. Should development continue to progress at this rate we expect to see production begin in Q4 this year.

Estimates

Initial production will be set at 2000tpd ore (Phase I) followed by a further capacity increase to 4000tpd by 2017E (Phase II). With relatively low operating costs of US$38.64/t ore in Phase I and US$32.77/t ore in Phase II we expect earnings to be profitable and estimate 2015E and 2016E EBITDA to equal US$37.7m and US$75.3m respectively.

Valuation

Based on our valuation that uses a NPV analysis methodology, we believe China Nonferrous Gold ("CNG") offers significant upside potential as it transitions into a gold producer and seeks a listing on the HK exchange before the end of the year. Based on a discount rate of 10% and a P/NPV of 1.0x we calculate a value of US$420m or £251m for the company and consequently set a 12 month target price of 65.9p/HK$8.52 per share. This represents a potential 120% upside to CNG's current share price, which in our opinion justifies our BUY recommendation on the stock.

[abacus23] 11/3/2014 14:21

Stop it!!

Your killing me......

[c9ajl] 11/3/2014 12:37

.. and more news on the way:Away from mine construction activities, the Company is in the process of finalising a report on its 2013 drilling and exploration programme, with results expected to be announced shortly.

[abacus23] 11/3/2014 10:05

Wow, that update blew me off me feet!!! Hee Hee.

I wonder if the bloke writing it sounds monotone!!


As CP says, nice to hear all the same.

[carlos panda] 11/3/2014 07:32

If you don't ask, you don't get? Thank you CNG.

That wasn't so difficult now, was it? ( :


CP