In 3Q 2013, the Group achieved lower adjusted operating cost of US$473 per ounce of gold sold and overall all-in cost of US$775 per ounce of gold sold as compared to US$732 and US$1,093 respectively in 3Q 2012. This was attributed to the significant increase in its gold production volume which resulted in greater economies of scale as well as improved production efficiency due to technological input from the engineers from China Gold.
Going forward, adjusted operating cost per ounce of gold production is expected to continue to fall as production volume increases and greater operating efficiency is achieved.
It is not just increase in volume of gold being produced but cost of gold production also lower.
I see that this as just the beginning and we can have a lot of upside surprise in the day ahead....
After the plant has been commission, it will be slowly ramp up and come 2014, CNMC will have a full year result that includes the production of new plant.
Expect to see explosive growth next year.
A little hint - the smart money (convertible loan) is for one year and come with exercise price of $0.44 Hence i believe that these investor already factor into the high possibilities of reaching $0.44 from the day of loaning money to the company. What do you think?
The following was written at Changi Airport in Singapore on route to Dar es Salaam, East Africa, November 22nd 2013/
My presence in Singapore is a mission for us. Having reported to you the six locations where cash and physical only exchanges for silver and gold were to be established, I did not leave it at that. My staff and I have contacted each proposed exchange in order to determine which of the six held the best promise for the gold market transition phase for price discovery away from paper gold and to physical gold material.
My original interest was to join that exchange on behalf of TRX. That desire transmuted itself into putting my shoulder behind that exchange which offers the global window to the real price of gold. That exchange in my opinion is the Singapore Physical Precious Metals Exchange, headed by CEO Victor Foo.
Too long has gold suffered from trading in its paper form which was originally conceived of and has continued to live as the means of manipulating the paper price of gold for the benefit of the few.
The time is at hand for Free Gold. The mechanism of freeing physical gold from price slavery to paper gold is the present time deletion of future exchange warehouse supply as the real cash price of physical gold exceeds the spot futures paper contract by the cost of shipping, the cost of insurance, and the cost of recasting of Western form 100 ounce gold bars into Asian product demand form.
The reported shipment of one billion in gold recently from the USA to the Rand Refinery in the Republic of South Africa was not junk jewelry form as reported. It was rather in the form of 100 ounce Comex bars being shipped to the Rand Refinery for recasting into Asian product, and was sold mainly in China as gold rose in price.
I was there as a member of the Comex exchange in March of 1980, the last time the Comex board of directors panicked over the threat of the Hunt Brothers asking for delivery of both gold, silver and copper in excess of, or equal to, the then Comex warehouse qualified for delivery supply.
Asian demand for physical gold is now in excess of supply and the declining Comex warehouse supply qualified for delivery. This is the mechanism for the emancipation of Physical Gold from the 41 years of price slavery to paper gold due to the cheap paper mechanism to manipulate the world gold price.
With the present time and predictable need to change the delivery mechanism on the COMEX to cash in order to avoid default on delivery, the reign of paper gold is ending. With this end we have the arrival of physical gold as the new discovery mechanism for the price of gold.
For the transition to take place it is necessary that we have functional global platforms for the trading of physical metals between peers of merit and a transparent price for global physical gold that exists nowhere for even professional public consumption.
There has been a clarion call from the long suffering holders of gold shares and investment gold for the Chief Executive Officers of gold companies to identify and take definitive action to end the slavery of the gold price to the mechanism of manipulation, the paper gold market. The advent of global platforms for and the true revelation to the gold public of the real gold price, the physical cash price on a 24 hour basis in the answer.
The cost of trying to manipulate this public physical price wherein delivery must be immediately made or payment presented immediately in full makes it too expensive to manipulate the gold price on a consistent basis. The paper gold market cannot move far away from the real physical price when the real physical price is globally known. Therefore to manipulate price the tricksters will have to participate on the physical exchanges thereby increasing their cost of their operation by orders of magnitude. That huge increase in the cost of moving price at will is the beginning of the end of paper gold ruling the physical gold price. That substantial increase in the cost of operation is the beginning of the physical gold market taking the position as the true discovery mechanism for the global price of gold. It is the beginning of the end of the reign of paper gold.
We CEOs of gold companies owe our stockholders economic production and all of our efforts to defeat the plans of the tricksters and their paper machinations that cost near to nothing and results in gold moving such as $1900 to $1200 when the true demand for physical over ground gold was on the rise and not on the fall. Where demand exceeded supply as paper gold was forced by bullies down from $1900 to $1200. This dichotomy in price is only viable via paper gold manipulation and must end here and now. To that object of "Free Gold" and the economic production of gold, I dedicate all my strength, all my contacts of 53 years in the business, all my knowledge of how to, and my capital.