ML they can't do a buy back because they have 47m cash and 175m debt. In fact i don't know why they do a dividend when that is you're cash position. They should pay down the debt first.
Challenger total costs for the qtr $2227. I calculate KCN group total costs for the qtr as $1526 and for the year to date as US$1323 using the figures quoted on p4 of the quarterly so they are barely making a profit if at all at current gold price.
Cash down from $52.8m to $47.1m but that was from operating at a higher gold price than now.
No definitive explanations as to how they are going to improve Challenger which has been making a loss all year. I'm not selling here but i'm certainly not buying either.
KCN Price at posting:
$1.74 Sentiment: None Disclosure: Held
