Friday 29 Mar 2024
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SINGAPORE (July 4): CNMC Goldmine Holdings on Monday announced its Sokor Gold Project has produced a record quarterly production of fine gold for the period ended June 30, 2016.

CNMC says it produced in the quarter some 9,807.37 ounces of fine gold – gold bars that are refined to the purity of 99.99%.

This was the highest production output on record since the start of CNMC’s gold production in July 2010, and was some 15.2% higher than the previous record of 8,510.42 ounces set in the quarter ended Dec 31, 2015.

CMNC last week signed a non-binding letter of intent to acquire a 51% stake in a Malaysian mineral miner Pulai Mining for a total consideration of RM13.8 million (S$4.6 million) which will be funded through internal resources.

Pulai Mining owns exploration and mining licenses with a combined license area of 3,841.3 ha, in Kelantan. The licences include an exploration licences of 2,300ha, seven gold mine licences for 1,166.2 ha, two iron ore mining licences of 359.7ha, and a feldspar mining licence for 15.41ha.

CNMC Goldmine closed 8.9% higher at 49 cents on Monday.

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