Chan writes in his Mar 13 report: “This was primarily driven by significantly higher base metal prices and improved production margin. FY2024 average realised gold price was US$2,455 ($3,276) per ounce versus FY2023’s US$1,960 per ounce.”
SAC Capital analyst Matthias Chan has kept his “buy” call on CNMC Goldmine at a raised target price (TP) of 45 cents from 33 cents previously as the group’s FY2024 ended Dec 31, 2024 results met his expectations.
In the period, CNMC’s revenue and net profit grew 25% y-o-y and 104% y-o-y, respectively.
