Hi CactusJack,
The P/E I am referring to is just a high level calculation. Once we pour gold in October, annual production should be around 200m ounces, so ballpark profit USD $200m with gold price above USD $1900. If you want to say that there is only 8 months left in the financial year, yes agree, P/E should be more 2 than 1.
But this is my point - virtually all company valuations price in information out to a two year horizon, but Kingsgate does not as Institutional investors are seriously underweight and far prefer to build position at a lower SP - hence the price suppression.
Just take a look through the course of sales. How many obvious:
left hand to right trades;
deliberate dumping not trying to maximise proceeds (sale orders 10 or more cents below previous day’s close at pre-open)
bot trades of $500 in value or less (are we supposed to believe this is teenagers spending their pocket money?)
I can see the pessimists pointing to the “uncertainty “, but TAFTA eliminates that completely. This isn’t a brand new mine, it is a proven resource of 200m oz per year and certainly more and higher grade once the quartz lease is operational. Not to mention all the other possibilities that could send the SP exponential. I would treat pessimistic posts with extreme skepticism, as I struggle to anything to be pessimistic about. It makes perfect sense though if you are an institutional investor late to the party desperate to acquire shares cheaply.
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$1.51 |
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Mkt cap ! $389.2M |
Open | High | Low | Value | Volume |
$1.49 | $1.53 | $1.47 | $1.005M | 671.9K |
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No. | Vol. | Price($) |
---|---|---|
1 | 2518 | $1.50 |
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Price($) | Vol. | No. |
---|---|---|
$1.52 | 35186 | 3 |
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No. | Vol. | Price($) |
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1 | 2518 | 1.495 |
4 | 32884 | 1.490 |
1 | 3220 | 1.485 |
2 | 5220 | 1.480 |
1 | 10000 | 1.475 |
Price($) | Vol. | No. |
---|---|---|
1.520 | 35186 | 3 |
1.525 | 4830 | 1 |
1.535 | 5500 | 1 |
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