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Gold is always in demands, whether good times or bad times. If good times, more profit for this company, for bad times, still making money as cost is very low in Malaysia compared to Australia and other countries.
I dont understand why this share price is so cheap. With low P/E and proven records!
Sorry typo error.. i meant euphoria..
My observation is that good accmulation over 34 to 35.. This is good! If bremain happens, market will cheer but sell down after initial eurpohia rally which is not sustainable.. If brexit happens, market will definitely be in a sea of red and gold price will rocket up. Be it the former and latter, it will favour this safe haven counter.. Be patient...Cheers :)
More to come 😎
FreedomAngelz ( Date: 21-Jun-2016 17:24) Posted:
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First time I own a stock that have very close to 30% profit return.
Whole day of fierce struggle between 345 and the legendary 35 barrier
trader1970 ( Date: 21-Jun-2016 15:33) Posted:
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You are absolutely right..Be patient... It will break the wall of 35 in a matter of ______. Watch.... :)
High amount of trades consolidation and accumulation are seen around 345 today.. if today close above 350, we should see a bright day tomorrow on until thurs market close. Friday, all depends on situation.
trader1970 ( Date: 21-Jun-2016 12:06) Posted:
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Unlikely it will goto 0.31... 10% likelihood to 32... it is consolidating at 35 now for the next surge.. As said, short-term investor will be selling to BB/LT investor.. Gold price will fluctuate but will still remain bullish after post Bremain if it ever happen.. if BREXIT HAPPEN, THIS COUNTER WILL PASS 40....:)
Gold price might drop to 1220-1240 range.....CNMC might drop until 0.32 for short term. If it drop to 0.3-0.31, I will load up more share for this counter. Still vested for long term. Global risk is still there whether its Brexit or Bremain. Brexit will just aggrevate the situation while Bremain will delay the issues.
But if Bremain is confirmed on Thurs, CNMC share price will be dropping back to 0.3-0.33 range?
Today high likeihood will surpass 35 and move towards 38... Investors do not like uncertainty... Brexit is not guaranteed... You never know the poll..... safe haven counter like this is a good bet.. :)
Big movement these few days......if Brexit does happen....easily go past 0.4
Be patient, BB and investors are accmulating for the next rise towards 40, Whether Brexit or Bremain, this counter will move higher from now amid gold fluctuation along the way. The global slowdown risks cum the US Presidential election, negative yields etc will continue to drive gold higher...Funds don' t buy gold for speculation.. They are preparing for this gold rally.... :)
Another analyst makes a refreshed call on CNMC. This time from KGI Fraser analyst: Renfred Tay 21 June 2016
CNMC Goldmine (CNMC) is a low-cost gold producer located in Kelantan, Malaysia.
Gold production has been rising over the years while production cost per ounce has been falling. We believe the company is deeply undervalued for the reasons below even as we take an agnostic view on gold price.
Proven track record. CNMC has dispelled earlier doubts about its execution ability in raising its annual gold production to 31.2 oz in FY15 from just 3.1 oz in FY11.
Lowest cost gold producer with rising profits. CNMC sold gold at an average realised price of US$1,156/oz in 1Q16 at an all‐ in‐ sustaining cost of US$474/oz (compared to the 4Q15 world average of US$832/oz), providing itself a sustainable margin buffer should gold price takes a drastic fall.
Its FY13‐ 15 performance illustrates this point ? larger production scale boosted efficiency, and helped its core profits surge from US$3.1m to US$13.6m, despite the fall in its average realised gold price to US$1,169/oz from US$1,314/oz, during the same period. At the current gold price of US$1,282/oz, which is 10% higher than the average levels recorded in FY15, coupled with a 20% increase in production capacity starting in 2Q16, we expect CNMC to report even higher profits this year.
Rising dividends. CNMC started paying dividends in FY13 and has raised it every year. For the past two years, the company has also been making three dividend payments a year and we expect this trend to continue, barring any major unforeseen circumstances. For FY16F, we expect CNMC to pay dividends that at least equals FY15?s total payout of 0.945 Scts.
Huge valuation gap. Judging from the sensitivity analysis of CNMC?s DCF value, which is based on conservative assumptions, CNMC?s current trading price mirrors a gold price of at most US$1,070/oz. This implies that there is a huge valuation gap that needs to be closed. We believe that there is much headroom for CNMC?s valuation to run before the movements of its stock price can be justified by changes in gold prices.
Our TP is set at S$0.48, based on its leading justified P/E of 9.3x, which is still at a 61% discount to its junior gold mining peers. With an upside of 43% to our TP, we rate CNMC as a strong BUY.
Disclaimer : Just sharing. Vested. Never follow any analyst blindly. DYODD.
CNMC Goldmine (CNMC) is a low-cost gold producer located in Kelantan, Malaysia.
Gold production has been rising over the years while production cost per ounce has been falling. We believe the company is deeply undervalued for the reasons below even as we take an agnostic view on gold price.
Proven track record. CNMC has dispelled earlier doubts about its execution ability in raising its annual gold production to 31.2 oz in FY15 from just 3.1 oz in FY11.
Lowest cost gold producer with rising profits. CNMC sold gold at an average realised price of US$1,156/oz in 1Q16 at an all‐ in‐ sustaining cost of US$474/oz (compared to the 4Q15 world average of US$832/oz), providing itself a sustainable margin buffer should gold price takes a drastic fall.
Its FY13‐ 15 performance illustrates this point ? larger production scale boosted efficiency, and helped its core profits surge from US$3.1m to US$13.6m, despite the fall in its average realised gold price to US$1,169/oz from US$1,314/oz, during the same period. At the current gold price of US$1,282/oz, which is 10% higher than the average levels recorded in FY15, coupled with a 20% increase in production capacity starting in 2Q16, we expect CNMC to report even higher profits this year.
Rising dividends. CNMC started paying dividends in FY13 and has raised it every year. For the past two years, the company has also been making three dividend payments a year and we expect this trend to continue, barring any major unforeseen circumstances. For FY16F, we expect CNMC to pay dividends that at least equals FY15?s total payout of 0.945 Scts.
Huge valuation gap. Judging from the sensitivity analysis of CNMC?s DCF value, which is based on conservative assumptions, CNMC?s current trading price mirrors a gold price of at most US$1,070/oz. This implies that there is a huge valuation gap that needs to be closed. We believe that there is much headroom for CNMC?s valuation to run before the movements of its stock price can be justified by changes in gold prices.
Our TP is set at S$0.48, based on its leading justified P/E of 9.3x, which is still at a 61% discount to its junior gold mining peers. With an upside of 43% to our TP, we rate CNMC as a strong BUY.
Disclaimer : Just sharing. Vested. Never follow any analyst blindly. DYODD.
Well this company produces real gold
Target price 43 cents if gold price can stay at current level..
Target price 43 cents if gold price can stay at current level..
It is normal for slight correction after a steep rally. Nonetheless, this counter is still intact for the next rise towards 40. As today is Friday, normal for profit taking. Be patient. The next surge is not too long.. Cheers :)
Amy retracement now is good as it corrects the oversold status for further growth
FreedomAngelz ( Date: 17-Jun-2016 09:24) Posted:
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Gold price was hit badly last night due to rumors on delay in Brexit vote (refer to British MP death incident)