What is that 1.9m oz indicative or inferred? At the end of day it one way it about being economic. KCN spent at least $90m on exploration they did fair value asset (NPV) knock it down to $30m. To get to indicative you need to drill holes about 50m spacing apart.. that is a lot of drilling. to take it from inferred to indicative KCN needs a load drilling...
A market test no transaction maybe they did offer of $30m, but KCN disclose that. They did indicative bids of $60, from I what I am reading they got no firm and final bids..,. So if you can't sell and you continue driling seems like wasting money... how much can you uplift the NPV with continual drilling, you can do a sensitive test, but intuitively if I have spent $90m and I had to write it down to $30m, it aint good. So my opinion stands, unless POS boost... NE is a dud.
Ann: Announcement of buy-back - Appendix 3C, page-16
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$1.35 |
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Mkt cap ! $347.9M | |||
| Open | High | Low | Value | Volume |
| $1.33 | $1.36 | $1.30 | $900.7K | 678.9K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2877 | $1.35 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.37 | 2963 | 1 |
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