Markets
Singapore Hot Stocks-CNMC up as gold resources double
SINGAPORE : Shares of CNMC Goldmine Holdings, which debuted on the Singapore Exchange's Catalist board last month, rose
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SINGAPORE: Shares of CNMC Goldmine Holdings, which debuted on the Singapore Exchange's Catalist board last month, rose as much as 5.2 percent on Monday after the company said it had doubled the gold resources at its Sokor project in Malaysia.
At 0121 GMT, CNMC shares were up 3.5 percent at S$0.595, outperforming the broader Straits Times Index which was 1.6 percent higher.
Compared to the June 2010 resource estimate, there was an increase in gold resources of 4.2 metric tonnes, with contained gold of 189,200 ounces, CNMC said in a statement, adding that this represented a 103 percent rise in contained gold.
Copyright Reuters, 2011
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