CNMC Goldmine Holdings, which operates in Malaysia, expects to report a "significant overall improvement" in its earnings for the year ended Dec 31 2023 versus the year prior.
In its profit guidance issued on Jan 29, CNMC CEO Chris Lim Kuoh Yang says the higher earnings can be attributed to the recognition of revenue generated from the sale of lead and zinc concentrate produced by its flotation plant in the Ulu Sokor concession, which was possible after it received a relevant export permit last January.
The company attributes the higher revenue to the sale of gold produced last year as well.
CNMC expects to report its FY2023 results on or before Feb 28.
CNMC shares closed Jan 29 at 20 cents, up 2.56% for the day and but down 4.76% over the past year.
