CNMC Goldmine Holdings Limited: Q1 2026 Operational and Financial Update

Singapore, 6 May 2026 – CNMC Goldmine Holdings Limited (“CNMC” or the “Company”) has released its quarterly update for the first quarter ended 31 March 2026, offering a comprehensive view into its financial performance, production activities, and exploration plans. The report provides insights that are crucial for investors and may have implications for the Company’s share price.

Key Highlights and Financial Performance

• Cash Usage vs Projections:
  • Total cash used for production activities in Q1 2026 was US\$19.39 million, slightly below the projected US\$20.14 million. The variance was mainly attributed to the timing difference in making certain payments.
  • Main expenditure items:
    • Exploration and evaluation: US\$0.58 million (projected: US\$0.61 million)
    • Plant and machinery: US\$1.12 million (projected: US\$1.14 million)
    • Diesel and production materials: US\$4.95 million (projected: US\$4.93 million)
    • Royalty and tribute fees: US\$5.95 million (projected: US\$5.58 million)
    • Rental of equipment: US\$0.66 million (projected: US\$0.75 million)
    • Upkeep of equipment and vehicles: US\$0.19 million (projected: US\$0.18 million)
    • General working capital: US\$5.94 million (projected: US\$6.95 million)
• Exploration and Evaluation Activities:
  • Ulu Sokor Concession:
    • Geological investigations focused on the Manson’s Lode and New Found deposits.
    • At Manson’s Lode, one out of two drill holes intersected gold mineralisation.
    • At New Found, three drill holes were completed, with two showing gold mineralisation.
    • Total of five drill holes completed in Q1 2026, with a total depth of 1,929.95 meters.
    • 603 half core samples were analysed for gold, silver, lead, zinc, and copper.
  • Kelgold and CNMC Pulai Concessions: No exploration activities were carried out, as the Company’s focus remained on the producing Ulu Sokor asset.

Operational Outlook for Q2 2026

• Planned Cash Usage:
  • Projected at US\$17.10 million, lower than Q1 due to reduced working capital needs.
  • Key allocations:
    • Exploration and evaluation: US\$1.08 million
    • Plant and machinery: US\$1.27 million
    • Diesel and production materials: US\$6.46 million
    • Royalty and tribute fees: US\$4.37 million
    • Rental of equipment: US\$0.74 million
    • Upkeep of equipment and vehicles: US\$0.17 million
    • General working capital: US\$3.01 million
• Exploration Focus:
  • Continued focus on Ulu Sokor concession, particularly the New Found and Manson’s Lode deposits.
  • New Found: Planned drilling at greater depths (up to 700 meters) to define deeper gold resource potential, with follow-up drilling to assess continuity of deep gold orebody.
  • Manson’s Lode: Drilling to evaluate and delineate new mineral resources.
  • Kelgold: Ground traversing and surface trenching to assess gold anomalies.
  • CNMC Pulai: No major exploration planned for Q2 as focus remains on Ulu Sokor.
• Drilling Program:
  • 12 drillholes planned, with a total planned footage of 3,530 meters using a diamond rig capable of up to 1,000 meters depth.
  • Drilling plan may be revised based on assay results.
• Development Activities:
  • Construction of two new vertical mining shafts at New Found and Manson’s Lode is progressing well and remains on schedule, barring unforeseen circumstances. Completion of these shafts is a significant milestone for the Company’s production capabilities and long-term resource development.

Key Points for Shareholders and Potential Price-Sensitive Developments

• Resource Expansion Potential: The ongoing drilling at greater depths and new exploration at New Found and Manson’s Lode could significantly increase the Company’s resource base if successful. Positive assay results or discovery of new ore bodies may be price sensitive and could drive share price appreciation.
• Operational Efficiency: The Company’s ability to keep actual spending below projections and maintain production activities without major cost overruns reflects strong operational controls, which is positive for margins and profitability.
• Development Progress: The timely progression of vertical shaft construction is crucial for future mining operations and production scalability. Any delays or issues here could be negative, but as of this update, the Company remains on track.
• Exploration Strategy Shift: The continued focus on the producing Ulu Sokor concession, with minimal activity at Kelgold and Pulai, signals a strategic prioritisation of near-term production over greenfield exploration, potentially minimising risk and maximising near-term returns.

Conclusion

CNMC Goldmine Holdings Limited’s Q1 2026 update reveals a company in strong operational health, with controlled spending, a clear exploration and development focus, and significant potential for resource expansion. Shareholders should monitor the progress of the deep drilling campaigns and the completion of the new vertical shafts, as both could be catalysts for share price movement depending on forthcoming results and operational milestones.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any securities. Investors should conduct their own due diligence and consult with professional advisors before making investment decisions. The information is based on the Company’s official disclosures as of 6 May 2026, and actual future results may differ materially from expectations.

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