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CNMC Goldmine 1Q continues Production Growth Momentum
CNMC Goldmine Holdings Limited announced its 1Q results. 1Q revenue was up 53.4% year-on-year to US$ 7.85million while 1Q PATMI was up 56.6% year-on-year to US$ 1.98million. This was attributed to an increase in fine gold production of 62.4% year-on-year to 6,514.21 ounces. This increase in production volume has been led by the overall productivity of CNMC Goldmine’s operations. In particular, the third leaching yard which commenced in May 2014 and the crushing system installed in Sep 2014. In terms of production cost, this was 21.1% lower year-on-year to US$ 616 per ounce of all-in costs. Going forward, CNMC Goldmine is looking for growth opportunities, including new mining sites.
GET TO THE POINT : What is interesting is not just the production growth momentum but also the management of production costs.
(Picture from CNMC Goldmine Holdings Limited)
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