Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

CNMC Goldmine (SGX:5TP): A Perfect Storm of Rising Gold Prices, Expanding Capacity & Surging Profits

Beyond the Beat: CNMC FY2025 Results Signal a Structurally Higher Earnings Base Heading into FY26

CNMC Goldmine Holdings Ltd. (CNMC SP): Cash Rich Gold Play In Singapore

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>Realized gold of US$4,486/oz drove revenue up 23% to US$65.2m and net profit up 18% to US$18.6m, despite a 6% fall in CIL output.</li>
<li>The balance sheet remains the differentiator: US$62.9m net cash, no bank borrowings, and the US$12m twin-shaft underground build is fully self-funded to completion in 2027.</li>
<li>FY26e at 8.9x P/E and 7.2x EV/EBITDA on S$1.37, 1.4% yield, 48.7% ROE, with 11% of the market cap in cash. </li>
</ul>


Realized gold of US$4,486/oz drove revenue up 23% to US$65.2m and net profit up 18% to US$18.6m, despite a 6% fall in CIL output.
The balance sheet remains the differentiator: US$62.9m net cash, no bank borrowings, and the US$12m twin-shaft underground build is fully self-funded to completion in 2027.
FY26e at 8.9x P/E and 7.2x EV/EBITDA on S$1.37, 1.4% yield, 48.7% ROE, with 11% of the market cap in cash. 


CNMC Goldmine Holdings Limited (CNMC SP) 1H2026 Results: Price Carries the Half While Grades Soften