Singapore-listed CNMC Goldmine declares first-ever dividend of 0.1 cent

A gold bar produced by CNMC Goldmine facility in Kelantan, Malaysia. -- CNMC GOLDMINE
A gold bar produced by CNMC Goldmine facility in Kelantan, Malaysia. -- CNMC GOLDMINE

Shareholders of CNMC Goldmine will get a dividend of 0.1 cent per share, as the company projects an optimistic outlook for its future earnings.

The Catalist-listed firm said the dividend payout reflects its improved financial performance.

It reported a net profit of US$1.95 million (S$2.45 million) in its latest quarterly results for the three months ended Sept 30.

CNMC is also confident about its growth for the next 12 months.

It expects to see more gold being mined at its Sokor Gold Project in the Malaysian state of Kelantan, due to increased production facilities.

Its second production facility, known as a leaching pad, was fully operational in September this year. The leaching pad extracts gold from ores through a series of chemical processes.

This increased production capability helped to improve its total manpower and equipment utilisation rates, reducing its overall costs, the company said.

Output of its gold is expected to increase next year when a third leaching pad goes into production.

The chief executive of CNMC, Mr Chris Lim, said: "The dividend is a reflection of our commitment to shareholders and to reward them for their support throughout these few years."