This comes on the back of gold prices’ steady rise in recent times, following a season of market volatility
[SINGAPORE] Shares of CNMC Goldmine surged over 12 per cent on Wednesday (Sep 3) – continuing gains since the release of its outstanding H1 results in mid-August as the company rides rising gold prices.
As at 9.04 am, the counter jumped 5.1 per cent to S$0.715, before increasing to S$0.735 by 10.01 am. By 11.36 am, CNMC Goldmine was trading 12.5 per cent or S$0.085 higher at S$0.765. This was before it eased to S$0.76 by 1.53 pm, still up 11.8 per cent after 9.9 million securities changed hands.
At S$0.765, the stock was trading at a new all-time high since its listing in October 2011. Its previous high was S$0.655 reached on Aug 15.
This comes on the back of gold prices’ steady rise in recent times, following a season of market volatility, with spot gold trading at US$3,531.81 per ounce, up 41.4 per cent year-on-year.
In August, CNMC had reported a record net profit of US$15.8 million for its first half ended Jun 30, 2025. This was a 256 per cent jump from its US$4.4 million net profit in the same year-ago period.
It also recorded an average selling price of US$3,197 per ounce of gold produced in the half-year, up 41.1 per cent from the price of US$2,266 per ounce in H1 2024.
The pure gold mining play declared a dividend of S$0.015 per share last month as well, more than triple the S$0.004 dividend a year prior. It comprises a special payout of S$0.011 and an interim dividend of S$0.004, and translates to a payout ratio of close to 29 per cent of its H1 2025 earnings.
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