What a pathetic presentation.Perhaps those on the fence can now see that this woman is not competent to be our CEO. I always thought she could be if we were just going to continue mining and buying back shares, but this talk of M&A and other project becomes a glaring no, no, no.
Let's unpack this presentation.
1) For a presentation of so few slides - it is unacceptable to have Typos and incorrect information. Out SP is not $1.52 it was $1.35 to be generous.
1.1) Why announce you have $43m in cash and bullion, when they slide says $41.5
1.2) As another poster pointed out, what do we own imminently?
2) Stumbling over words - can forgive this. Not a major problem.
2.1) For some reason lauding Wilsons and Canaccord - F them. Let production and profit do the talking.
2.2) Over all uncouth, riddles with slang and odd sayings, some non-coherent. ("We have gone full commando on the gold price". WTF)
2.3) Gives a should out to "Emerald, who are down the road in Cambodia" and apparently, they have given us some advice on how to operate in Thailand?
2.4) We are the only gold company operating in Thailand - might have something to do Thailand making it ILLEGAL to mine.
3) No mention of TAFTA and the major issue that continues and is still to be finalized. Just the mine was "restored to us"
3.1) No mention of extra incentives that could yield significant value for shareholders
4) This will be the second quarter in a row that will be transformational. How many times can you transform
5) Significant time talking about community project when we are actually a gold miner.
6) NE - Kinross did 40m ounces but we do not have the infrastructure. It will cost hundreds of millions to build.
KCN real Value proposition.
1) Our SP is dog shit and so, you, then new investor, can make some money. Why is SP dog shit
1.1) We don't communicate with shareholders
1.2) We routinely miss guidance e.g. We say 25,000 ounce we deliver 9,600
1.3) We are back to properly mining a full year after we said we would.
1.4) We have been completely and utterly saved by the Australian gold price.
1.5) No mention of a Thailand IPO - This needs to start to become a routine conversation.
Thailand needs to own a part of this.
1.6) Extra incentive from Thailand create value
1.7) Highly profitable? But are we, KCN don't know the AISC and will only give it after a full year of routine production in over 1 years' time.
All in all - This is not the Lady to
1) Buy us another mine - at the top of the cycle
2) Develop us another mine - at the top of the cycle
3) JV in a silver play South America
4) Start operation in LAOS
5) Etc etc, etc
There needs to be a serious talk and perhaps a vote on the strategic direction of this company.
Some fool with no shares at the helm cannot be driver of this bus, or we will go off the cliff - AGAIN
(20min delay)