As a result of the lower gold output, the all-in costs of US$1,546 per ounce in 3Q17 were higher than the all-in costs of US$728 per ounce in 3Q16, exacerbated by the higher capital expenditure of the construction of CNMC’s new carbon-in-leach (CIL) plant.
SINGAPORE (Nov 10): CNMC Goldmine has announced earnings of US$1.1 million ($1.5 million) for the quarter ended Sept, down 51.8% from its earnings of US$2.25 million a year ago on lower revenue and higher capital expenditure.
Revenue for the quarter nearly halved to US$4.7 million from $8.5 million in 3Q16 as lower ore grades crimped the group’s production and sales volume of fine gold.
