"PNG project just about ready to go."The economics from the DFS...

"PNG project just about ready to go."
The economics from the DFS were marginal, especially in the context of PNG governance, and so the company placed the Misima project on hold while it looked to see what kind of arrangement they could make with another company - so called strategic option. It remains to be seen whether they can sell or JV. The market has discounted Misima in its valuation as it is hard to know what can be realised from it.
The Board had the wisdom to find another gold mine outside of PNG before the DFS results were announced and this has kept KSN going.
Using production figures for Mineral Hill gives an EV to Production of $2477/oz which is well priced in comparison with its peers for a low output mine requiring underground expansion and I would not call it a screaming buy.
As for resources and reserves, remove the Misima resource, and the valuation figures look very different. There will be some kind of value for Misima but they have been looking for a buy-in for a year now without any takers. If the POG keeps rising then soon or later someone will be tempted as the economics change but who can say when that might happen.