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CNMC Goldmine
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Goldminer
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Eagle88
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25-Aug-2016 10:06
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If you know the price will eventually hit 82 in 12 months' time...do you think it is expensive to buy at 60 now? moreover, this TP does not consider the potential of getting Pulai Mining which is another Golden Crown to CNMC...if my father got a bank i will wallop everything... |
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Eagle88
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25-Aug-2016 10:00
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fully agreed....majority has the say...we know it is coming.... with revised TP up 40% to 82 but many dont know and subject to rumours and fear...anlah2...will see the price going beyond 65 by this afternoon if majority knows of this new TP...
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samlai
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25-Aug-2016 09:59
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Lol, sounds like your dream if it happens.
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Equity1
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25-Aug-2016 09:57
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Yup! Think Can consider to re -enter 52-54
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Just4win
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25-Aug-2016 09:56
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This is what my remiser has adv me few days ago.. so I sold mine at .57 ... but now I hv to bou some back at higher px  .. n still waiting in the queue for another batch
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Eagle88
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25-Aug-2016 09:53
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it is opportunity to pick up cheap again...information still not yet dissiminated to the masses...once it is done...no more cheap to pick...this happened when the price was below 50 and then slowly2 but steady2 going up until 61 yesterday...
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samlai
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25-Aug-2016 09:53
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Don' t think so, but then if so, will be great to re-enter again
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dragonboy76
Master |
25-Aug-2016 09:51
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ppl are selling probably becuase of gold price drop and Fed speech. they may choose to secure profit first and enter again later if price dip lower. as long as we know what is coming, then have to hold on tight and get through it |
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Equity1
Senior |
25-Aug-2016 09:51
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It may go dw to 56.5 cents. | ||||
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Eagle88
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25-Aug-2016 09:48
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i have to correct it myself based on latest TP of 82 (NOT YET CONSIDER PULAI MINE)...pick up anything below 70 is considered really cheap...of cos try to get it lower than that if possible lah...
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samlai
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25-Aug-2016 09:47
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Dropping quite a bit, sudden wave of sellers? |
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samlai
Member |
25-Aug-2016 09:40
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www.kgifraser.sg/company-reports/ Maybe linking don' t work well on this forum?
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dragonboy76
Master |
25-Aug-2016 09:39
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BUY - Maintain Price as of 24 Aug 2016 0.585 12M target price (S$) 0.820 Previous target price (S$) 0.640 Ups ide (%) 40.2 Trading data Market Cap (S$m) 240.3 Is sued Shares (m) 407.3 Ave Dai ly Traded (3-Month) Vol / Val 13.1m / S$6.3m 52 week lo / hi S$0.16 / S$0.61 Free Float 48.6% Major Shareholders Innovation (China) Ltd 26.3% Bank of S' pore Nominees 13.0% 2018 overhang lifted Large-scale operations granted mining lease extended. CNMC, on 23rd Aug 2016, announced that it received approval from the Kelantan State Lands and Mines Office (PTG) of Malaysia, for its application of &ldquo large scale operation&rdquo status for the Sokor gold field project. With this large scale operations status, CNMC will be allowed to mine unlimited amounts of ore at Sokor. Its mining lease was also extended to 31st Dec 2034. CNMC is required to pay PTG and other relevant authorities in Kelantan, a processing payment of up to RM20m (~US$5m) in relation to the extension of the Sokor mining lease. The original mining lease was supposed to expire in April 2018. We believe RM20m of processing fee is a reasonable sum to pay to secure the extension as its amounts to only ~US$0.27m per year. For perspective, CNMC&rsquo s EBITDA for 2Q16 was US$7.8m. Higher royalty rate. Royalty rates for minerals produced in Sokor will be adjusted to 10% as stipulated in Malaysia&rsquo s Minerals (Amendments) Act 2014, and should not be a surprise for investors. The previous rate was 5%. CNMC&rsquo s royalties and tribute expense has been hovering at approximately 8% (5% royalties + 3% tributes) of revenue in the past. The higher royalty rate will kick-in immediately. Therefore, our forecasts are now adjusted to reflect royalties and tribute expense at 13% (10% royalties + 3% tributes) of revenue going forward. All-in-costs per ounce of gold (US$500/ozt in 2Q16) is also expected to impacted as well. Management believe that they are able to keep to the ~US$500/ozt region through cost reduction in other areas and larger operation scale. Big overhang lifted. With the approval and mining lease extension, we believe the key investor worry has been lifted. The extension will also enable CNMC to better plan and budget for the long term. With better earnings visibility, we expect the huge discount between CNMC and its peers to narrow (CNMC trading at ~10x FY16F P/E vs. the junior gold miners average of ~23x). Our target valuation for CNMC is now pegged at 13x FY16/17F P/E (low end of peer average) to derive a new TP of S$0.82. We continue to see further upside to our TP as CNMC&rsquo s discount to its peer average narrows. What&rsquo s next? CNMC previously signed a non-binding letter of intent on 28th Jun 2016 to acquire a 51% stake in Pulai Mining Sdn Bhd. The exclusive period of two months for CNMC to do its due diligence will soon come to past. We are therefore, expecting an impending announcement on this matter. As mentioned previously, we believe this potential acquisition that will cost only ~US$3.4m, is a positive development for the company. We expect a positive share price reaction if CNMC is able to close the deal. Key risks: (1) plunge in gold price, (2) much lower than expected ore grades could put our earnings forecasts at risk. |
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Eagle88
Supreme |
25-Aug-2016 09:38
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http://www.kgifraser.sg/company-reports/ Just cut and paste the above link will do...
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Just4win
Supreme |
25-Aug-2016 09:37
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Extracted another portion of the report .. HUGE DISCOUNT now !!!! Big overhang lifted. With the approval and mining lease extension, we believe the key investor worry has been lifted. The extension will also enable CNMC to better plan and budget for the long term. With better earnings visibility, we expect the huge discount between CNMC and its peers to narrow (CNMC trading at ~10x FY16F P/E vs. the junior gold miners average of ~23x). Our target valuation for CNMC is now pegged at 13x FY16/17F P/E (low end of peer average) to derive a new TP of S$0.82. We continue to see further upside to our TP as CNMC&rsquo s discount to its peer average narrows.
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Eagle88
Supreme |
25-Aug-2016 09:35
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dont know why the link sometimes can go in sometimes cannot...
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Eagle88
Supreme |
25-Aug-2016 09:33
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at least you put it higher...2c is lots of money if X 200K OK...lol...
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dragonboy76
Master |
25-Aug-2016 09:31
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if this counter is really gauging the best time to announce, then probably tomorrow halt and announce on Friday evening so that whatever Fed said on Friday will have no negative impact on the share price. Monday open then will go sky high. |
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Eagle88
Supreme |
25-Aug-2016 09:30
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https://www.kgifraser.sg/company-reports . NEW TP is 82 ...revised from 64...upside is 40.2% ....seemed like only they are working hard...lol... |
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Just4win
Supreme |
25-Aug-2016 09:29
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Great! Thanks for your clarification, hairytrade and dragon boy. Hope we all huat !
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