Brokers' take

CNMC Goldmine Holdings | Accumulate Target price: S$0.30 Feb 27 close: S$0.26 Phillip Capital, Feb 27

Revenue was in line with our expectation. Net profit outperformed our expectation, due mainly to the unexpected downward adjustment of compensation for employees and key management.

Results from the trial operation of Carbon-In-Leach (CIL) met expectation. Production at CIL plant is expected to kick-start in Q218. With the help of the plant and available high-grade ore stockpiled, it is expected to see a significant improvement of output volume this year.