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CNMC' s production volume is quite lumpy. CNMC produced 4356 oz in June, but Q2 number came in at only 6470 oz. It produced 5201 oz in September, but Q3 number came in at only 7667 oz.
A possible explanation for the huge discrepancy between the first 2 months vis-à -vis the last month may be caused by balancing low quality ore with high quality ones. Instead of depleting high quality ore quickly, perhaps CNMC tries to achieve a consistent quarterly output by using low quality ones in the first 2 months and then high quality one in the last month. To support the hypothesis, I computed the theoretical average production volume for comparison.
Based on numbers obtained from announcements, the average gold production per quarter is around 12,861 oz / quarter. Calculation is as follows:
Reserves=9.14 m tons
Average grade=1.6 g/t
Maximum leaching capacity=1m ton per year of ore
Max production per year=51k oz per year or
Max production per quarter=12,861 oz per quarter
So, based on calculation, Q3 production at 7667 oz does not seem to be manipulative, i.e, the company attempting to boost production but using up good reserves first. Too be I was not present at the investor dialogue to confirm my hypothesis, oh well...
invester dialogue is today3pm, what time finished?
bro just give their IR a call.
soojinhou ( Date: 11-Nov-2014 15:26) Posted:
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lol i never went but i bought more .. im probably buying another 100 over lots in the next few months
soojinhou ( Date: 11-Nov-2014 15:26) Posted:
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Anyone went for the investor dialogue? My question is: Production seems to be max at the last month of the quarter. Is it because the old crushing machine is too slow to fully take advantage of the 3rd leach yard? Will the new crusher help? Would love to hear from anyone who went. I' m a foreign investor, so can' t go. A bit dissapointed with market reaction but no regrets investing in this counter. CNMC is as close as it gets to printing money.
i detect some heavy buying.. its a new counter give it some time ..
ruready ( Date: 11-Nov-2014 12:32) Posted:
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Market ready silk very good result but share price dropping ? Mr choo never come in to buy?
good results went down same as wee hur haha.
As at 30 September 2014, the Group had a cash and cash equivalents of US$9.44 million,
representing an increase of 332.5% from US$2.18 million as at 30 September 2013. The continual
increase in cash and cash equivalents will enable CNMC to have greater flexibility whenever new
project opportunities arise.
but its off the radar.. i doubt much movement..
soojinhou ( Date: 11-Nov-2014 08:32) Posted:
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A bit off from my expectation, I expected 9k oz vs 7.7k oz actual. Still, look at that solid cash flow and the rapid build up in cash pile. All-in cost and all-in sustaining cost are very low, and CNMC will be profitable even when other miners close shop. Annualized PER for Q3 stands at 6.5. Net profit margin is 42%. ROE is at 68%, and for the first time accumulated losses has turned into retained profits. I reckon it' s gem despite the difficult external environment.
results quite good looking
yes if i rmbr correctly, the all in cost is ard 600-700 USD
soojinhou ( Date: 10-Nov-2014 19:39) Posted:
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btw i bought a little today.. not knowing what to expect :S
soojinhou ( Date: 10-Nov-2014 19:39) Posted:
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If he means current spot gold price of USD 1173 vs all-in cost of USD 647, I like it very very much!! That' s a net margin of 45%. Yumm....
domanic ( Date: 10-Nov-2014 17:16) Posted:
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what do you mean by 1173 vs 647
kenzo1975 ( Date: 10-Nov-2014 16:15) Posted:
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something is going on here.
hehe, not many ppl like this counter.. usd 1173 vs usd 647... my maths not so gd.
So monday must mornitor this hse and price also!
ruready ( Date: 09-Nov-2014 09:46) Posted:
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Bro t
Last Friday I notice some one slowly snap up from 265 to 28 ,
Last Friday I notice some one slowly snap up from 265 to 28 ,
Tempest ( Date: 09-Nov-2014 09:32) Posted:
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