CNMC Goldmine Holdings has reported record earnings of US$15.8 million for its 1HFY2025, up 256.1% y-o-y. Revenue in the same period ended June was up 78% to US$52.8 million, driven by both higher production and higher selling prices of the yellow metal.
For context, earnings for the whole of FY2024 came in at just US$9.8 million and the company's previous record was US$12.2 million back in 2014.
CNMC in 1HFY2025 produced 11,811 ounces of gold, up 26% y-o-y, and its average selling price was US$3,197 per oz, up 41.1% y-o-y.
The company plans to pay a dividend of 1.5 Singapore cents per share, equivalent to a payout ratio of nearly 29%. For 1HFY2024, it paid just 0.4 cent.
CNMC CEO Chris Lim says the 1HFY2025 results "far exceeded" expectations.
"We intend to build on this momentum and are going all out to produce and sell even more precious and base metals,” he adds.
See also: Creative remains in the red for FY2025; guides for better FY2026
CNMC shares closed at 55 cents on Aug 13, up 2.8% for the day and up 120% year to date.
