KCN (ASX) Ann: Corporate Update

Originally posted by LoveGod: ↑

I actually liked talking to Ross the Boss individually as he would be honest about the problems, so i'll give him credit for that.

The problem i found was if you were on a conference call with Ross & our other politician, when Ross would start venturing down the path to tell you the bad issues being encountered the Politician would step up and bull$hit you to paint a picture of roses and sunshine.

Shareholders just want the cold hard facts, not to be bull$hitted too, that's all we ask... After time, the shareprice being dog$hit like today will tell us all what the actual reality of our situation is..... There is no escape for shareholders.

I spent 5 years talking to Ross and everything was fine, i actually enjoyed listening to all the stories / Drama's that were happening, things only went pear shaped after the bonuses and as soon as you start being critical the other CEO & MD & CAIDC just causes all sorts of Kaos by being a sneaky politician , just like a sneaky politician in any Government does .. It's quite funny actually as i know many shareholders who deliberately blow smoke up our CEO's ass today to keep him happy and it's amazing how well it works...

Obviously our CEO who never bought a share in 10 years is completely ignorant about investors needs when the shareprice is being destroyed to $1.08 and he is sitting at a conference in Denver Mountains / Miami Beach / Canada etc,etc.

We all got to experience webinars where our politician doesn't allow feedback.. The politician only gets to have his say in a sterile environment he deliberately created to protect himself from criticism and only answers his pre-approved questions ..

The politician even today still refuses to allow comments on important LinkedIn posts so shareholders can't criticize him or give there opinions. Only likes !

The politician must have even instructed new employees to never ever respond or talk to shareholders who are critical. Especially after the AGM presentation production error that caused a -20% shareprice plunge and our Politician obviously instructed office employees to never tell the truth... The Truth was only revealed 2 months later when they were forced to tell the truth in the next quarterly report..... A simple immediate correction would have prevented 2 months of endless drama !

So actually the politician bull$hitting so much and never achieving his promises actually had a butterfly effect on destroying many shareholders previous positive attitude towards Ross the Boss...

( anybody follow Bruce lehrmann / Brittney Higgins wannabe politicians endless drama ? , the drama of too wannabe politicians in search of power and the endless drama's that followed is a perfect illustration of what can happen after you tell a single little porky pie to cover up what really happened .)

I think the lesson i learned through all this is i'm never ever trusting a ladder climbing human without a sporting background.

Oldfolk has a ripper story of either our CEO or only one other potential person telling him a specific lie that they knew was a lie and was a deliberate lie to throw mud on the lovegod after i'd started being critical of there failures the sneaky buggers! Maybe Oldfolk next time you talk to Ross get my mobile number off him and i'll fill you in on the exact details of what happened and you can compare it to what our politician told you !

The Good thing about having Ross the Boss in charge today is that he's burned his fingers in the past stuffing things right up with ambitious growth strategy's between years 2011 to 2015, so hopefully burning everything in that bonfire will stop him ever repeating it again --> Buyback and Dividends only will prevent that happening again !! - fingers crossed !

My only concern really is with the politician wanting to make a name for himself.......recent words; " Ambitious Growth Strategy " coming from a politicians mouth is a warning sign for disaster ! Ambitious PRODUCTION INCREASE strategy is the only words that should ever come out of his mouth.

The next six months is going to be incredible!! It will be the first time in 6 years they won't be able to bull$hit us anymore, it's all there in the P&L & AISC costs for everyone to judge...

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I really don't think there's going to be any problems with AISC going forward - not much use in looking at FY24 financials as the whole year has to be counted as a start-up year. FY25 will be the litmus test and if they produce close to 120k ozs of gold then AISC/oz will be OK especially if they get some royalty relief shortly. AISC will include the lease payments for the CAT equipment and drilling rigs but they're paying the majority of that back over 48 months so the monthly payments will be less than $2mil.
I have previously worked it out at around US$1200(A$1820)/oz based on 120k ozs produced and that's before any royalty relief.