| Name | Last Price | SGX Code | Market Cap S$M | Total Return YTD % | Total Return 1 Yr % | Total Return 3 Yr % | Dvd Ind Yld % |
| Wilton Resources Corp | 0.074 | 5F7 | 183 | 12.1 | 32.1 | -43.1 | N/A |
| CNMC Goldmine Holdings | 0.395 | 5TP | 161 | -9.2 | 84.8 | 70.5 | 1.5 |
| Anchor Resources | 0.097 | 43E | 30 | 6.6 | N/A | N/A | N/A |
| Average | 3.2 | 58.5 | 13.7 | 1.5 |
Source: SGX StockFacts, Bloomberg (Data as of 15 March 2017)
*Correlation based on daily data between Jan 2015 to Mar 2017
CNMC Goldmine is the second largest capitalised of the trio and achieved its first gold pour in 2010. It saw an exponential increase in trading volume leading up to Brexit, with a threefold month-on-month increase from May to Jul 2016.
The company is headquartered in Singapore and started operations in 2006. It is principally involved in the exploration and mining of gold and the processing of mined ore into Gold Dores. It is currently focused on developing the Sokor Gold Field Project located in the State of Kelantan, Malaysia. Spanning an area of 10km2, Sokor had 618,000 ounces of JORC-compliant gold resources (including ore reserves) as at 31 Dec 2015.
CNMC Goldmine has also completed a proposed subscription to acquire a 51% stake in Pulai Mining Sdn Bhd, which is a brownfield project with 11 licenses spanning about 38 km2 to explore and mine for gold, iron ore and feldspar. A brownfield project is a mining area where previous mineral deposits have been discovered, whereas a greenfield project a mining area that has yet to have seen a discovery. Upon Pulai Mining becoming a subsidiary, CNMC Goldmine will commence geological exploration to find mineral resources that comply with the internationally accepted JORC Code.
CNMC Goldmine reported FY2016 profit attributable to owners of the company at US$9.1 million against US$10.6 million a year ago. In its 2017 outlook (click here), the company plans to:
- Expand production by increasing leaching capacity and enhance gold recovery process with the aim of increasing gold production;
- Minimise cost by further streamlining production processes to reduce wastage of raw material and leverage economies of scale from increased production capacity to lower material costs;
- Accelerate exploration by increasing gold resources and reserves (as well as silver, lead and zinc resources and reserves) at Sokor; and
- Expand portfolio by exploring opportunities to acquire and develop other mines in Malaysia, other parts of Southeast Asia and Australasia.
Source: SGX StockFacts, Bloomberg (Data as of 15 March 2017)
*Correlation based on daily data between Jan 2015 to Mar 2017
Wilton Resources is engaged in the business of exploration and mining of gold, and production of gold dore. The Group’s concession blocks, collectively termed the “Ciemas Gold Project”, are located in West Java province of Indonesia, and cover a total area of 3,078.5 hectares. For the six months ending 31 Dec 2016, Wilton Resources reported a loss after tax of IDR 22,422 million against IDR 24,180 million a year ago.
In its half year financial report, Wilton Resources noted:
- The Ciemas Gold Project boasts high grades, large and open resources, and low projected costs which help to de-risk the opportunity.
- The Board remains focused on the commencement of gold production at the Ciemas Gold Project, with mining of ore to be processed in a pilot plant expected to commence in 3QFY17 (1 Jan 2017 to 31 Mar 2017) from which first production is expected in 4QFY17 (1 Apr 2017 to 30 Jun 2017) – for more details see section page 15 – Section 14c here.
- The volatility of the foreign exchange for the US dollar against Wilton Resources’ functional currency (IDR) will continue to have a significant impact on the Group’s financial results.
Source: SGX StockFacts, Bloomberg (Data as of 15 March 2017)
*Correlation based on daily data between Mar 2016 to Mar 2017
Anchor Resources is in the business of exploring, mining and producing gold for sale primarily in Malaysia. Its headquarters are in Kuala Lumpur and with group concession rights to the Lubuk Mandi Mine and the Bukit Panji Mine. Both properties are located in the state of Terengganu, Malaysia.
Anchor Resources’ current focus for mining and production of gold is at the Lubuk Mandi Mine where its project partners and appointed main contractors continue with exploration, gold mining, processing and smelting, as well as constructing and developing required equipment for the operations at the mine. Anchor Resources reported that the FY2016 loss attributable to owners of the parent was MYR 28.5 million against MYR 44.2 million a year ago.
Anchor Resources noted in its financial report (click here) :
- The Group expects gold prices to fluctuate depending on the global economy and US interest rates.
- The Group will continue with its hard rock mining activities at the Lubuk Mandi Mine including the dewatering of the main pit and the stripping of the overburden in order to reach the resources at deeper areas.
- Reiterated that on 27 Jun 2016, the Group announced the Very Substantial Acquisition (VSA) to diversify into the new business of mining and quarry extraction of dimension stone granite as well as architectural stone and interior fit-out (“Proposed Diversification”). The VSA and Proposed Diversification are inter alia, subject to approvals from independent shareholders and the SGX-ST.
- In addition, the Group is contemplating further fund raising for the development of Lubuk Mandi Mine.
- Mining engineers will determine, using exploration data, if there is sufficient gold deposits under the surface to make the mining economically feasible; the type of mine needed; the physical obstacles to getting to the gold; and the potential impact of a mine on the area's wildlife and environment.
- Before the gold can be mined, supportive infrastructure must be created. Since mines are often in remote locations, an entire infrastructure – roads, administrative offices, equipment storage areas – must be built. The plans for each mine require the green light by a number of authorities at each relevant level of the government.
- The mine site infrastructure includes a processing area where the ore is crushed and undergoes various processes depending on the nature of the associated minerals and then the loose rock is sent to the appropriate processing location.
- The gold is extracted from extraction solution and deposited onto activated carbon, from which the gold is then chemically stripped – also referred to as leaching. The impure gold is then melted into dore bars, which contains about 90% pure gold. These bars are usually shipped to a refinery where they undergo further processing.
- The refining process strips out the remaining impurities from the gold and convent the end product to 99.99% pure gold.
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