Sgx Singapore News Update : Epic Research Singapore

     CNMC Goldmine posts US$4.44 million profit for Q2

 OLD mining company CNMC Goldmine Holdings reported a net profit of US$4.44 million for the second quarter ended June 30, 2014, up from US$26,180, bolstered by a record fine gold production volume.
 
Revenue shot up by over 272 per cent year on year to US$8.27 million as the significant increase in the production and sales volume of fine gold in Q2FY14 offset the lower average realised gold price. Earnings per share jumped to 1.09 US cent, up from 0.01 US cent previously.

The group achieved a record fine gold production volume in Q2FY14 of 6,470.24 ounces versus 1,387.88 ounces in Q2FY13.
For the six-month period, the Catalist-listed firm reported a net profit of US$5.71 million, swinging into the black from a loss of US$622,531 in the corresponding period a year earlier.

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