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Production restarts this week, so wasn't very long. Bounce back from 1.6p to over 3p?
StockBox interview https://www.youtube.com/live/wTLiFhYzcxQ?feature=share - 16/17mins in.
It is obvious Gold is buying Gold and CNG is the perfect fit - 100% owned Gold mine, good grade and good ore production and sales.
This stock was trading 10-15p not long ago and the 76% owners wont be diluting the stock anywhere near these levels imo.
Don’t invest then is the simple answer.
With mining operations ceased & power supply cut due to the avalanche, cashflow will be effectively frozen for whatever period we dont yet know. CNG needs to find $20m from somewhere to repay that 3 month bridge finance in April or else they will be in default, outlook looks decidedly dodgy
With over 75% of the company in TR1 hands and the majority Chinese national trading investors this looks like it has the upside of a squeeze like it has the downside in recent months. Gold now above $1,900 the future looks very bright for gold producers and this being a UK listed company and £10m m/c with 75%+ tied up.
Large spread at these levels with the market not sure how to trade - but any buying will move this back up to 6-15p very quickly imo. Looking for an entry.
Company has drifted, as has the share price.
Poor previous update, no real progress, tax issue to address, Chinese management harsh on the local workers which has entered the media, no sign of phase 2, communication remains zero with current shareholders.
Production update likely in the next few weeks based on previous years update timings.Continued debt pay down and beginning phase 2 are key indicators for small investors to look out for.
Relatively small sales (£13k) moves the price considerably.
This suggests there are not many buyers about for this company.
Company provides the bare minimum updates to the market.
Company has started to pay down debt now.
With Gold prices at these levels or higher, we should see debt coming down over next 3-2 years
Hoping phase 2 will accelerate this
Did you ask about expansion of phase 2?
Did you ask about AISC gold price now ? As a producer Co should tell you
Gone silent on that idea . That would gave been a game changer
In terms of communication, They have replied to emails in the past.
This Co has no interest in shareholder value or market reporting.
Should be quarterly updates now.
No mention on phase 2 expansion to increase production figures to over 100k oz.
Debt mountain to remain for some time
Based on previous years
Production update - Feb/March
End of year results (2021) - July/August
AGM - December
Happy New Year
Average set of results for 2021,
the debt mountain has had a minimal haircut, a full Afro of debt remains.
Until the debt is under $100 million, the share price will continue to stagnate.
In April this year, the Pakrut joint venture was fined 1,500 somoni ($ 133) after local workers went on strike to protest their rights violations. As it turned out, Chinese employers, contrary to the recommendations of the republican headquarters for combating COVID-19 and the Ministry of Health of Tajikistan, introduced a three-month quarantine for watch workers at the enterprise - during this time they were not allowed to leave the territory of the enterprise.
The State Service for Supervision of Labor, Employment and Social Protection of the Population believes that this is contrary to Art. 245 of the Labor Code of the Republic of Tajikistan, according to which the duration of a shift cannot exceed 15 calendar days. At the facilities, with the written consent of the employee in accordance with the employment contract, agreement and collective agreements, the duration of the shift can be increased to 30 calendar days, the message says.
Employees of the State Service for Supervision of Labor, Employment and Social Protection of the Population also found out that employers do not pay overtime for work in quarantine conditions and during the night shift.
First he was beaten and then fired." Why did the local workers of the joint venture "Pakrut" go on strike?
About 40 workers at the Pakrut, a Tajik-Chinese joint venture in Vakhdat, have gone on strike to protest the allegedly illegal dismissal of a local worker.
Local workers said that the incident was the fault of a citizen of the PRC, but the Chinese leadership of the joint venture defended their compatriot and fired a local worker.
The shares of the Pakrut gold mining enterprise are owned by the Chinese company China Nonferrous Gold Limited (CNG).
Why did the workers decide to strike?
The emergency happened at the end of last week. A citizen of the PRC (his name is unknown), without explaining the reasons, slapped the local security officer Navruz Safarov, who was filling the car with diesel fuel, and was punched in the face in response. As it turned out, the Chinese man is exercising control over the discipline of local workers. Navruz Safarov was fired on the same day.
The management of the joint venture does not comment on the incident and the workers' strike. The administration employee, in an interview with Radio Ozodi, did not deny the conflict in the enterprise, but only said that "the issue will be resolved on September 3".
One of the company's employees, who introduced himself as Abror Makhmadov, told us on September 2 that local workers stood up to defend the dismissed Navruz Safarov and went on strike. “No measures were taken against the citizen of the PRC - the culprit of the incident. Previously, he wounded several local workers with a screwdriver, then the leadership also came to his defense. Therefore, we decided to declare a strike until Navruz returns to work, ”said our interlocutor.
The strike lasted a week, none of the workers went to work. On September 2, the heads of the enterprise met with the workers and promised that they would restore Navruz Safarov to his previous job within 24 hours.
Coronavirus and Pakrut
Strikes and protests in Tajik-Chinese joint ventures have taken place before.
Last May, Tajik law enforcement agencies quelled a riot by Chinese workers from the Tajik-Chinese Mining and Industrial Company in the northern village of Zarnisor. For this purpose, riot police were called to the scene and dispersed the protesters by shooting in the air. about 60 Chinese citizens, armed with stones and sticks, gathered at the head office of the company, they broke glass in the building and several cars parked nearby.
According to one version, the reason for the discontent of the workers was the delay in wages. According to another version, Chinese migrants demand to return them to their homeland - they cannot leave for China due to closed borders and imposed restrictions due to the coronavirus epidemic.
Is it blatant ramping on the ADVFN boards in favour of this company?
They only talk about the POTENTIAL upsides, about Phase 2 and beyond and yet Phase 2 has not had a mention for over a year from the company (please correct me if I have missed it).
The facts remain
CNG are MINING yet a MOUNTAIN of debt remains barely touched.
Is it fair for one to assume once phase 2 happens, if it happens, this is when the debt will be called in and we have another classic Chinese LSE investment?
Another year and barely any debt movement.
Loan agreement RNS; Debt remains at the same value reported in March; no further reduction.
RNS light on detail
Phase 2 is now complete?
No updates, No 2020 results, No comms
2020 year end results due?
Still not tackled the debt , the wait goes on.
Nonferrous Gold Limited
29 Sep 2020
(“CNG” or the “Company”)
Board Changes
China Nonferrous Gold Limited ? (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, announces that Mr. Liang has tendered his resignation as Chairman of the Company to pursue other business interests. That resignation has immediate effect today.
At the same time, Mr. Yu Lixian has been appointed Chairman of the Company with immediate effect. Mr. Yu was previously Managing Director of the Company.
To ensure ongoing and effective corporate governance of the Company, it is agreed that Mr. Yong Li, a current Non-Executive Director of the Company, is appointed as the Senior Independent Director with immediate effect.
Finally, it is agreed that Mr. Hui Zhang, be appointed as Managing Director of the Company with immediate effect.
Mr. Zhang, is a senior engineer by trade and has worked as engineer in a number of positions since 1998. He currently serves as the Managing Director of China Nonferrous Metals International Mining Co., Limited.
A list of Mr. Zhang’s current directorships together with those held within the last five years is set out below:
Current Directorships
China Non-Ferrous Metals International Mining Co. Limited
Previous Directorships
None
Mr. Zhang (aged 50) does not own any shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
Can’t work out why the price is this low when you consider all the indicators
People don’t trust the management group?
Why the bad news?
Unable to refinance the debt?
for those interested, I have set up a new thread for CNG on the A D V F N Community & have shared a lot of my research there, including photos of the Pakrut mine & some financials