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CNMC Goldmine kept at 'neutral' after 52% drop in 3Q earnings

Samantha Chiew
Samantha Chiew11/14/2017 01:03 PM GMT+08  • 3 min read
CNMC Goldmine kept at 'neutral' after 52% drop in 3Q earnings
SINGAPORE (Nov 14): Phillip Capital is reiterating its “neutral” call on CMNC Goldmine Holdings with a target price of 30 cents.
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SINGAPORE (Nov 14): Phillip Capital is reiterating its “neutral” call on CMNC Goldmine Holdings with a target price of 30 cents.

This comes after the group announced that its 3Q17 earnings dropped 51.8% to US$1.1 million ($1.5 million from US2.25 million in 3Q16, on lower revenue and higher expenditure.

Revenue nearly halved to US$4.7 million from US$8.5 million last year as lower ore grades crimped the group’s production and sales volume of fine gold.


See: CNMC Goldmine's 3Q earnings halve to US$1.1 mil on reduced output

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