SINGAPORE (July 21): CNMC Goldmine Holdings has received a letter on July 19 ordering the company to temporarily stop all works and operations at its Sokor gold field project.
CNMC says the order was issued by Kelantan State Lands and Mines Office of Malaysia (PTG). This follows CNMC’s request to the state government to review the company’s application for Large Scale Operation status. If the application is successful, CNMC will be allowed to mine unlimited amounts of ore from Sokor.
The company notes that it has been cooperating closely with its joint-venture partner Kelantan State Economic Development Corporation and PTG to ensure that it meets all the regulatory requirements for Large Scale Operation status.
The company also announced that it would be meeting the PTG and other relevant authorities in Kelantan next week to discuss its application for Large Scale Operation status.
CNMC Goldmine advises shareholders and potential investors to exercise caution when dealing in the shares of the company.
Shares of CNMC Goldmine last traded at 46 cents on Tuesday.