KCN 2.47% $1.58 kingsgate consolidated limited.

If you can't sell it, the price it too high. My point is, there...

  1. 174 Posts.
    lightbulb Created with Sketch. 181
    If you can't sell it, the price it too high.
    My point is, there are better uses for 100m to 200m, which would be the development cost's with a JV partner.
    Do not develop an asset just because you own it.
    As a JV we would still have to spend 10's millions on it's development and that money could be better spent reducing the share registry or indeed expanding the Chatree complex. Another processing plant of 3 million tones per annum.

    However, I think the best thing for KCN is to sell NE and buy back shares. spend 2024, 2025, 2026 earning and buying back shares. Perhaps we can get to 175,000,000 shares. That is 3 years of exploration that could see our life of mine, more than double

    The reason our share price is so poor is because management can not get a simple loan. They stated a loan was imminent for over two years. They stated that Thai funding was part of the negotiated settlement like the tax holiday and SPL's but it has never come. The market has been waiting and waiting and waiting. Then they diluted us. Also their reporting is completely all over the place, they can't even report weekly or monthly gold stats as Lovegood correctly points out. It is not hard to have a graph of gold and silver pours. It is a simple Excel spreadsheet data entry and graph print out. Other mining houses do this all the time but KCN use information as a weapon. Before the capital raise there was great information release as they wanted the SP to be high as to secure funding. Now we see some weird number that no one can work out and no one can deicide if they are incorrect or a lie or we just doubled production or it was used to make the company look good for the AGM. The point is, as usual, we have no clew. We are kept in the dark. That is why the company is sub $1.3. Further to this we have no clew what the cost of plant 1 is and if we can fund it from revenue. We were told there is material uncertainty regarding this. So who knows.

    I must say, I find it all very disappointing. The up shot of this share is amazing but there is a chance management bundle it big time.

    The best thing for this share is to buy back stock with every cent. Get us to 175,000,000 shares and sell the entire thing in 3 years and everyone can walk away with the $4 or $5 or $6 or $7 or $8 or whatever we get.

 
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Last
$1.58
Change
-0.040(2.47%)
Mkt cap ! $407.2M
Open High Low Value Volume
$1.61 $1.63 $1.57 $1.610M 1.003M

Buyers (Bids)

No. Vol. Price($)
2 14999 $1.58
 

Sellers (Offers)

Price($) Vol. No.
$1.60 22071 1
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Last trade - 16.10pm 01/07/2024 (20 minute delay) ?
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