It's all greek to me densamer.
My confidence level in KCN as a holding is however only going up.
Positives:
NE is approved, resourced and ready to go (worth about $3.00 if we mine it; at current PM prices, in my opinion)
TAFTA - feels like the outcome of the arbitration process will fall in our favour with near 100% certainty, with the only issue being the quantum (This is my view, based on the mosaic theory). AU$500m+ seems likely, which is at least another $2.00 on the SP.
PM prices are also only going up from here in the medium term, so presents a nice PM play as well (again, in my opinion based on MMT being implemented all over the world and interest rates being kept extremely low)
And then we have the Thai govt, seemingly knowing that they will lose, trying to find a solution to save face. With RSK (and I would assume a team of experienced commercial/political/mining lawyers/advisors) making sure that any alternative offer (if it is to be accepted) represents a much better, risk adjusted outcome than the cash settlement.
So I see $3.00 to $5.00 as a reasonable medium term target, with a positive negotiation on Chatree, the upside kicker from there.
In fact, if I was one of the bigger mining companies, I would be keeping an eye on this for a possible take-over, given the amount of resource that KCN will control (subject to ongoing mining at Chatree based on a favourable negotiated settlement).
Just my opinion, but I have backed that up with a significant investment. So here's hoping RSK can turn his 5 million shares into a very tidy retirement fund! It would be well deserved.
GLTAH, DYOR.
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