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CNMC Goldmine kept at ‘overweight’ by NRA Capital on new mine deal

Broker's Calls

CNMC Goldmine kept at ‘overweight’ by NRA Capital on new mine deal

Zavier Ong Published on Thu, Jun 30, 2016 / 1:20 PM GMT+8

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SINGAPORE (June 30): NRA Capital has maintained its “overweight” rating on CNMC Goldmine, with a target price of 43 cents.

This follows CNMC’s entry into a non-binding agreement to acquire 51% of Pulai Mining Sdn. Bhd. (PMSB) via the subscription of new shares for MYR13.8 million ($4.6 million).

CNMC’s involvement in this project shows that the existing shareholders recognise CNMC’s ability to develop mining projects in Kelantan, Malaysia, says NRA analyst Liu Jinshu.

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