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CNMC sees 3Q earnings fall 3.6% to $1.8 mil on lower revenue and higher costs from stop-work order

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CNMC sees 3Q earnings fall 3.6% to $1.8 mil on lower revenue and higher costs from stop-work order

Michelle Zhu Published on Mon, Nov 07, 2016 / 7:05 PM GMT+8

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SINGAPORE (Nov 7): CNMC Goldmine has posted earnings of $1.76 million for the quarter, 3.6% lower than $1.83 million a year ago due to lower revenue as well as higher production costs from a stop-work order it received from authorities in Kelantan in July.

(See also: CNMC’s Sokor goldmine ordered to cease works temporarily)

As a result of the production halt, the company’s gold output fell 24.3%.

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