0722 GMT - CNMC Goldmine Holdings is likely a leveraged stock play on rising gold prices, Phillip Securities Research analysts say in a commentary. The Singapore-listed company is increasing its processing capacity at its carbon-in-leach plant to 800 tons of gold-bearing ores per day from the current capacity of 500 tons per day. This is expected to generate an average free cash flow of S$34 million/year over the next 10 years, with a free-cash-flow yield of 24%, the analysts estimate. The gold producer's profit after tax and minority interests for 2025 are expected to surge by 46.6%, the brokerage says, initiating its coverage of the stock with a buy rating and a target price of S$0.49. Shares are 2.9% higher at S$0.355. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 03:22 ET (07:22 GMT)
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