SINGAPORE (Nov 25): On the whole, Catalist-listed CNMC Goldmine Holdings, which operates three mines in Malaysia, has benefited from higher gold prices.

In its latest set of results for 3QFY2019 ended Sept 30, it reported earnings of US$2 million ($2.7 million) — an eightfold increase from the previous year.

This had brought the company’s earnings for the first nine months of FY2019 to US$4.2 million, surpassing its full-year earnings of US$1.68 million for 2018. Higher gold prices have helped drive this gain. CNMC was able to sell gold at an average price of US$1,494.95 an ounce in 3QFY2019 compared with US$1,205.02 in 3QFY2018.

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