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CNMC in the red for Q4 on lower ore grade

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Published Tue, Feb 21, 2017 · 09:50 PM
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Singapore

MALAYSIAN gold miner CNMC Goldmine Holdings fell into the red for the fourth quarter, as revenue tumbled 44 per cent on lower ore grades.

The group recorded a loss of US$1.9 million for the three months ended Dec 31, against a net profit of US$3.3 million in the same period a year ago.

It made revenue of US$5.2 million for the quarter, down from US$9.3 million for the year-ago period.

The amount of gold it produced fell 53 per cent year-on-year to 4,040.58 ounces because of the lower ore grades. This was only partially offset by the…

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