CNMC Goldmine Holdings Limited reported a 17.8 per cent year-on-year (YoY) rise in net profit attributable to shareholders to US$18.57 million for the six months ended Jun 30, 2026, lifted mainly by higher realised gold prices that offset lower ore grades and cost inflation.

Earnings per share increased to 4.58 US cents from 3.89 US cents a year earlier. The board declared an interim tax-exempt dividend of S$0.004 per share and a special tax-exempt dividend of S$0.016 per share, totalling S$0.020 per share, up from S$0.015 per share a year ago. Both payouts will be made on 11 September 2026, with the books closing at 5.00 pm on 1 September 2026.

Group revenue rose to US$65.16 million (1H2025: US$52.80 million), driven by a 40 per cent increase in the average realised gold price to US$4,486 per ounce. Sales volumes of fine gold fell 6 per cent to 11,105 ounces, while lead and zinc concentrate volumes declined by about one-third as the Sokor mine processed lower-grade open-pit ore pending the ramp-up of new underground facilities.

By segment, mining contributed US$31.67 million in pre-tax earnings, up 7.8 per cent YoY, while other operations – mainly dividend and management-fee income from subsidiaries – generated US$6.68 million (1H2025: US$5.57 million). Group pre-tax profit rose 19.8 per cent to US$30.98 million.

Operating costs climbed on several fronts. Royalty and tribute fees advanced 38 per cent to US$9.89 million in tandem with stronger revenue, while site and factory expenses jumped 26 per cent to US$11.07 million, reflecting higher diesel prices and maintenance costs. All-in sustaining costs rose 38.7 per cent to US$1,855 per ounce, stemming from fuel inflation, lower production volumes and continued investment in underground mine development.

The balance sheet remained robust, with cash and cash equivalents rising to US$65.24 million at end-June from US$64.18 million at end-December 2025. Net operating cash inflow was US$19.95 million, tempered by US$10.08 million of tax payments, including instalments linked to a disputed Malaysian tax assessment currently under appeal.

Strategically, CNMC is constructing additional underground facilities and two new vertical shafts at its flagship Sokor mine, slated for completion in 2027 at an estimated cost of US$12 million. The group also seeks to transfer its listing from SGX Catalist to the Mainboard, having obtained in-principle approval subject to shareholder consent at an extraordinary general meeting on 19 August 2026. A proposed increase in Kelantan state royalty rates for gold and silver remains under appeal; no timeline for resolution has been indicated.

Looking ahead, the company cited World Gold Council projections that gold prices may trade in a range around US$4,100 per ounce in the second half, with upside risk from geopolitical tensions and downside risk from potential US dollar strength. Demand for zinc, lead and silver is expected to stay supported by infrastructure and clean-energy applications, providing additional revenue streams.