CNMC upbeat and out to contain costs

GOLD mining company CNMC Goldmine Holdings is optimistic about growth in the coming quarters, as it has recognised further production from its third leaching yard that began operations only 21/2 months ago, its senior executives said.

The company is also looking to keep a lid on costs, with a slower pace of growth in expenses boosting its net profit for the second quarter, the company's chief executive Chris Lim said at a briefing yesterday.

CNMC, Singapore's first listed gold miner, reported a net profit of US$4.44 million for the second quarter ended June 30, up from US$26,180 a year ago, buoyed by a record production volume of fine gold.