CNMC Goldmine (SGX:5TP) spent nearly $11.7 million on various production activities after initially projecting a total spend of $10.5 million, a filing with the Singapore Exchange said on Thursday.
The group conducted exploration activities at the Ulu Sokor concession where 14 out of 16 drill holes encountered gold and base metal ore bodies at the Manson's Lode Deposit.
Sixteen drill holes were completed in the third quarter with a total footage of 5,474 meters.
The group expects to spend around $13.0 million on various production activities for the fourth quarter of the year.
Shares of the gold and other metals mining company were down nearly 4% in recent trading.
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