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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| China Nonferrous Gold Limited | CNG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.30 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.30 | 1.30 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 25/3/2023 16:13 by mrmark1 Depends on the company and industry he is talking about - and the audience he is attracting - with CNG I would suggest the pull back to £Xm m/c is very very important to investors. It's just simply cheap with a company on the small cap market that won't dilute and is producing and selling Gold. Cash flow is less important to a mine owned 100% by a few very wealthy investors, including the Chinese state - producing and selling a commodity which is desired by the Chinese. |
Posted at 01/3/2023 12:28 by hari Jb2Calm down . I sold mine a while ago , I have no bitterness on making a small loss .. it was my call .I always had issues with the large debt . It is all documented here I can see AAZ investors tend to follow investments , so maybe you are being protective With regards to the culprits I was referring to the posters on 1562/1576 posts |
Posted at 21/12/2022 10:59 by hari MM1Maybe you have only bought in recently , but you need read the RNS’. Balance sheet no in great place which was out of COs control . But it needs to double production and have higher gold to be worthy of investing again You seem to like to make 10-20 % and sell out quickly ,So you are a trader not investor it seems |
Posted at 20/12/2022 20:12 by mrmark1 I'm sorry Eke I disagree. Just an opinion but Gold just needs to continue to rise and someone or a group of investors see CNF producing and increasing production and with such a small free float you don't need gold to be 2k....you just need momentum...remember this company dosent issue paper and won't issue paper (stock) at these levels when not so long ago the share price was 10-15p |
Posted at 07/6/2022 11:05 by wanobi In the 1930s, economist John Maynard Keynes said: “Markets can stay irrational longer than you can stay solvent." Unfortunately, that bit of wisdom remains true today. Market movement – up or down often makes investors second-guess themselves.hope that doesn't apply to CNG :-) LOL :-) GLA Cheers Wan :-) |
Posted at 21/3/2022 17:45 by mattjos Thanks Hari, Yes, I read them from time to time.One of the, many, key points in that report: "With consumer goods price inflation skyrocketing – in February, the US CPI was up close to 8 per cent against last year – the Fed must send a 'signal of confidence' to the general public if it does not want to lose its credibility altogether. At the same time, however, it would take a fairly strong increase in the Federal Funds Rate to bring real interest rates back into positive territory: Currently, the short-term US interest rate is hovering around an estimated minus 7.7 per cent – a record low. While the Fed and other major central banks may well raise their short-term interest rates somewhat further going forward, they are unlikely to push elevated inflation down to around 2 per cent anytime soon. Expect central banks to do their very best to convince investors that the fight against inflation is on, hoping that mostly words will suffice to keep people’s confidence in the currency and that real policy tightening can be kept at a minimum. If the conclusion of this article is correct – namely that there is no return to normality as far as monetary policy is concerned – there is indeed a strong case to be made for holding physical gold and silver." |
Posted at 18/3/2022 19:32 by mattjos Just because the 'Chinese' way does not involve 'spoon feeding' investors the opportunity offered, that should not prevent the market/investors taking the information given and doing the maths for themselves. It's not difficult. Just takes a bit of effort.There is a glaring valuation anomaly here. The price is down here on nothing more than boredom & a general lack of understanding. It is not going to take many people to do the maths and conclude it's a Buy before we see this correct 150-200%, imho. |
Posted at 08/3/2022 20:16 by mattjos Many of the Junior Gold miners are still at/near long low prices.The larger cap producers have moved first, as is usually the case, given their deeper liquidity & wider awareness amongst analysts, funds and investors. CNG is at the 'minnow' end of the market. £21.5m Mkt Cap, no covering analysts, no coverage whatsoever by the House Broker, concentrated equity ownership in a Chinese entity, a significant o/s sum of debt & a 'Stan' location. We do rather have more red flags than green ones but..... All the minnows tend to hang around at a start of a sectoral Bull-Run. ( am also invested in AAZ & other than the location, it ticks just about every box you could wish for: Debt free, paying a dividend, huge resource base, small equity issuance etc but, that too is stubbornly lingering near its recent lows). We've endured the 'war' sell off & now the larger caps are all moving upwards into uptrends, price of Gold is near all time highs .. our time will come. The market will not ignore a 40k producer for ever, no matter how obscure the entity, folk will find it. CNIM continue to act in a very respectable & supportive manner towards their toddler (CNG) & I am yet to feel it necessary to question any of their decisions to date. I remain persuaded that CNIM still firmly intend to see this toddler grow into a far bigger regional PM mining entity and, in so doing, hugely reward their patience and support. Am assuming the recent selling has been purely reflexive, given events in Ukraine/Russia & perhaps a desire for liquidity but, markets soon adjust to changed dynamics & wars come to an end at some point. Meantime, the gold price (with a guaranteed 'market' buyer for our output) is doing wonders for the cashflow. |
Posted at 22/1/2022 17:29 by mattjos Have spent hours today going over my research and stats.Even though I believe I am likely a bit more familiar with the company than many others, it has not been at all easy to value this company for quite a considerable time & it's share price has tended to move about according to the waxing and waning of investor sentiment rather than any one particular valuation methodology. As I commented on Chip's thread back in Jan 2020; "During the period, the company served official Notice that the Pakrut mine was now fully Operational & it was therefore obliged to make some significant changes on its balance sheet. $389m was Transferred in to 'Producing Mines' & that figures is only now subject to Depreciation (previously this sum was constantly rolling up according to mine development expenditure and not being depreciated). Therefore, this is the first set of accounts according to the new 'In Production' Phase of the project. We are further advised that the depreciation rate for the mine will be based on the unit of production method & that this resulted in a $5m depn. charge for the first 6 months of production. The Accounts were therefore whacked with their first Depn. charge on the Mine & furthermore, we are told that this rate of Depreciation is now, and henceforth, calculated on a per unit rate ie. the more the mine actually produces in the Accounting period, the greater the Depn. charge is going to be in said period. Clearly different from a simple straight line methodology Therefore, I actually want to see this figure get much bigger even if it appears to negatively skew the headline figures: $389m value of Producing Mine $5m Depreciation Charge for the 6 months period 389 / 5 = 77.8 periods of deprecation remaining at that rate of utilisation. That is 77.8 Half Years or 38.9 Full Years (BFS LOM is 19 years so, they will clearly be ramping up production as current financial utilisation rate shows them not even managing to recover their pre-production mine CAPEX over the LOM). Therefore, i certainly expect to see the Depn. charges grow & the headline figures to appear a bit goofy for at least another 2 HY periods until the reporting timeframes are compared L-for-L. Until then, I believe it makes more sense to concentrate on the cash generation from the operation and certain other operating metrics.." For many potential investors, the lack of Quarterly reporting, lack of AISC figures, Debt loading, concentrated equity ownership by CNIM & the rather 'unique' metrics used to report on the Pakrut operation are all considerations that mean the vast majority just don't look any further & quickly move on and I completely get all that but, I don't believe it means one should not at least have a stab at valuing the business - after all, it is a significant gold mine that has been constructed & now in operation .. it's value is somewhere between Zero and Infinity. Once again, I come back to the simple Enterprise Value metric - simple metric that takes into account the Debt, the Cash & Cash Equivalent & the Market Capitalisation .. ie. what would it be worth were it 'For Sale'. Reviewing all the EV values placed on the company (fortnightly) over the last 30 months and the P&L's + Balance Sheets since Pakrut commenced production, I believe the equity should have been valued at 15.5p / share as at end of 2021 & that the Mkt Cap element, of the Enterprise Valuation sum, was rising at the monthly equivalent of 0.96p / share / month. That should rise to just over 1p / share / month during the course of 2022 as Interest on the Debt outstanding reduces. (Assumes 382,392,292 shares in issue | GB£1 : US$1.36 | $1,780 /oz Gold | $60m per annum Debt repayment). As per the BFS, the Gold Price is single biggest 'lever' on the business model and is followed by the overall Recovery Rate (which has been consistently improving since the mine went live) & Grade. Unless anyone else can construct a more logical valuation methodology or, pick holes in mine then, that's where I'm at right now & why I believe this is currently undervalued. The longer the Mkt Cap consolidates around 'the 10p barrier', the more undervalued it gets with every passing month. |
Posted at 06/1/2022 18:04 by mattjos I cannot recall one single junior mining project that 'goes to plan' according to the Mine Plan / Feasibility studies.Mines always seem to follow the well known Mining Cycle ie. the early discovery subsequent drill phases and then the fleshing out of the project in various JORC's and feasibility studies always seem to be accompanied by the build in Mkt Cap of junior miners as the price moves ahead and various equity raises increase the number of shares in circulation but, I have come to conclude that this quite deliberate and explainable. The company needs equity finance and lenders of such always want to make sure they can both 'get in' early doors and then be sure to 'get out' profitably, before the party ends. The company directors, the NOMAD, the brokers & the lenders all understand how the game is played and (particularly on AIM) it's the retail PI that is sucked in on the constant news flow and it's the inward retail money flow that is effectively buying out the providers of the equity financing. Now, you may drop lucky at this phase and profitably time your buy & sell for a trade but, I don't believe this is the phase when investors (as opposed to traders) should be tempted in. Once the boring reality of mining sets in and the operational difficulties become apparent and the metrics are not immediately what was forecast, we witness the long steady decline in the share price as the whole thing seems not to be what was 'promised' and people exit as they see the value of their shares just keep dribbling down and down. It's down at the point of maximum despair that I believe genuine long-term value starts to become apparent for the long term investor. Somewhere around this level and time, the company is finally going to get on top of the operational challenges and, imperceptibly at first, things are gong to start improving. In the case of CNG, OI believe we're at that point this last 6 months. We've achieved steady state production & now we've started to repay the debt loading & there is a clear mathematical relationship between the Mkt Cap, Debt & Enterprise Value which tells us that as the Debt comes down, so the Mkt Cap will have to rise. The quantum of Debt is known, the Enterprise Value is known and the Mkt Cap is known so, investors should be able to do some very simple sums and determine what will be the Mkt Cap when the Debt is repaid. That's the potential upside & it's much easier to evaluate, measure and track than it is to 'guesstimate' at the early (pre-productive) phase of the project when it's all wild speculation. Here the upside is very significant as the debt unwinds and then a further exciting phase as the company goes Net Cash Positive & actually starts to accumulate Cash & that draws in another group of investors looking for companies in just that position. |
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