Daily Morning Note – 28 February 2018


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CNMC Goldmine Holdings Limited – Look forward to a turnaround this year
Recommendation: ACCUMULATE, Last Done Price: S$0.26
Target Price: S$0.30, Analyst: Chen Guangzhi
– Results from the trial operation of Carbon-in-leach (CIL) met expectation
– Exploration on Sokor, Pulai and KelGold project goes on
– Primary catalyst: the significant turnaround of gold output, stemming from
the replenishment of high-grade ore and higher gold recovery


China Jinjiang Environment Holding Company Limited has entered into an asset purchase agreement with Hangzhou Financial Investment Group Co., Ltd. to dispose 70% interest in Zibo Green New Energy Co., Ltd. and Hohhot Jiasheng New Energy Co., Ltd..

ESR REIT intends to raise S$141.9 million through a pro rata and non-renounceable preferential offering of 199 new units for every 1,000 existing units.

Progen Holdings Limited has proposed a one-for-two renounceable non-underwritten rights issue of up to 135,990,364 new ordinary shares at an issue price of S$0.045 for each Rights Share.

TT International Limited has updated that its Investor has agreed to amend the Term Sheet, which will allow the possibility of interim funding.

Cityneon Holdings Limited announced that its MOU with Mutual Power International Limited and Massive Right Investments Limited has been terminated.

Source: SGX Masnet, Phillip Securities Research

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