CNMC Goldmine's 1Q earnings surge ninefold to S$0.71m

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SINGAPORE (May 14): CNMC Goldmine says 1Q18 earnings surged almost ninefold to US$0.53 million (S$0.71 million), compared to US$0.05 million in 1Q17.

Revenue for the quarter was 29.0% higher at US$6.10 million from US$4.73 million a year ago, due to an increase in the production and sales volumes of fine gold, as well as the increase in average realised gold price

Net other operating income came in at US$0.79 million, compared to US$0.36 million in 1Q17, due to an unrealised foreign exchange gain of US$0.90 million, mainly arising from MYR-denominated cash deposits and a gain on disposal of vehicle of US$0.07 million... (Click here to read the full story)