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CNMC Goldmine started on 'buy' by DBS

Jude Chan
Jude Chan11/18/2016 12:20 PM GMT+08  • 1 min read
CNMC Goldmine started on 'buy' by DBS
SINGAPORE (Nov 18): DBS Group Research has initiated coverage on CNMC Goldmine Holdings with a “buy” recommendation and a target price of 65 cents.
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SINGAPORE (Nov 18): DBS Group Research has initiated coverage on CNMC Goldmine Holdings with a “buy” recommendation and a target price of 65 cents.

“Supported by well-run operations, steady cash flow generation and competitive cash costs, CNMC is our preferred leveraged play on gold,” says DBS analyst Paul Yong in a report on Wednesday.

Yong says that CNMC had already “struck gold” with its flagship Sokor Gold Field Project. And now, it is eyeing the acquisition of a 51% stake in Pulai Mining, a Kelantan-based gold miner.

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