Hopefully the stock is cheap at the moment but that's very hard to judge on normal metrics. Since restart the stock has never made a cash profit in any month (before D&A) up until & including Sep24 - so the total market capitalization of $400mil is based on future potential - that always requires some faith - in this case the faith is probably solely in improving the grade of ore being fed into both plants so that quarterly production improves from the QtrSep24 figure of <16k ozs Au There is absolutely no way of avoiding red ink on the statutory P&L (after D&A) for the half year to 31Dec24. But a modicum of faith indicates that they'll be substantial cash profits & statutory profits from Jan25 onwards and even a small cash profit (before D&A) for Qtr Dec24 on production of close to 20k ozs Au
KCN Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
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