Macquarie Bank rate KCN “Underperform” with a target price of $0.50.
Key points of Macquarie note:
- Surprise exit of CEO, CFO, NED
- Concerned by reserves downgrade at Chatree – reduction of reserves by 420koz, much more than the 135koz of production in FY14
- Downgrade in avg grade of Chatree reserves from 0.87g/t to 0.80g/t
- Forecast losses for next two years for KCN, only just break even in FY17
- Reserves and grade reduction shortens Chatree mine life by 2 years
Macquarie price target $0.50
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Last
$1.59 |
Change
0.005(0.32%) |
Mkt cap ! $409.8M | |||
| Open | High | Low | Value | Volume |
| $1.63 | $1.65 | $1.58 | $301.7K | 187.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 27763 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 29 | 1 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |