CNMC's gold production poised to recover this year: CEO

Singapore

MALAYSIAN gold miner CNMC Goldmine Holdings, which is seeking a dual primary listing on the Hong Kong bourse, says its performance is poised to recover this year as it announced a net profit of US$1.29 million for the fourth quarter despite a decline in revenue.

The profit, compared to a net loss of US$1.94 million in the previous year, came about thanks to a reversal of performance bonus accruals and an unrealised foreign exchange gain.

The group's revenue slid 6.2 per cent to US$4.86 million due to a 10.4 per cent drop in the production and sales volume of fine gold in the fourth quarter; higher average realised prices for gold on…