CNMC Goldmine to transfer to SGX mainboard on Aug 28
Shareholders vote overwhelmingly in favour of the move
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[SINGAPORE] CNMC Goldmine shareholders have approved the Catalist-listed gold producer’s transfer to the Singapore Exchange mainboard, said the company on Thursday (Aug 20).
Shareholders approved the transfer at its extraordinary general meeting on Wednesday. About 97.5 per cent of votes were cast in favour of the transfer, which was proposed in May.
The transfer will be effective from Aug 28, and will also mark the end of PrimePartners Corporate Finance’s role as the company’s sponsor. It will then become CNMC’s compliance adviser.
“This vote is evidence that shareholders are backing what our numbers have already shown,” said Chris Lim, CEO of CNMC. “Our earnings have grown more than tenfold since 2023.”
CNMC’s net profit surged 326.5 per cent to US$42 million in FY2025, from US$9.8 million in FY2024. That 2024 figure was itself more than double of its US$4.1 million profit in 2023.
Net profit for the first half of 2026 came in at US$18.6 million – 17.8 per cent higher compared with the same period in 2025, said CNMC on Aug 14. It declared an interim dividend of S$0.02 a share, which will be paid on Sep 11.
The move to the mainboard is expected to widen the pool of investors CNMC can tap as it pushes ahead with the next phase of underground development at its flagship Sokor gold field project, added Lim.
The company is continuing to invest in underground mining at the Sokor project in Malaysia’s Kelantan state to access higher-grade ore and boost production.
An additional underground gold mining facility is also under construction, while two new vertical shafts budgeted at US$12 million are on track for completion in 2027.
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CNMC said it expects the upgraded listing to lift its profile with local and overseas investors. Mainboard-listed companies also tend to attract broader coverage from research analysts, it noted.
The added coverage will “support a market valuation that better reflects its underlying value, along with improved trading liquidity”.
Shares of CNMC Goldmine ended Thursday 2.2 per cent or S$0.03 higher at S$1.40, before the announcement.
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