The bottom line, which marked a nine-year high, was attributed to the soaring gold prices and operational efficiencies.
Lim & Tan Securities analyst Chan En Jie has increased his target price on CNMC Goldmine to 48 cents from 43 cents previously after the company’s FY2024 revenue and net profit stood at 104% and 98% of his full-year forecasts respectively.
On Feb 24, CNMC Goldmine announced earnings of US$9.8 million ($13.1 million) for the FY2024 ended Dec 31, 2024, 140.3% higher y-o-y.
