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$1.37 kingsgate consolidated limited.

Ann: Chatree Gold Mine Plant 1 Update, page-154

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howcho

204 Posts.

12

06/07/24

10:49

Post #: 74635736
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Originally posted by miningnut: ↑

Companies can pay dividends out of current year profits especially if they have positive Total Equity.
KCN does have positive Total Equity at 31Dec23 of $33.4mil and although they do have $754.4mil in accumulated losses then, they can at anytime set-off the bulk of those losses against the total of Contributed Equity of $727.3mil. I would expect them to re-instate the cost value of their PP&E to the amount of the impairment in 2016 of ~$200mil as at 30Jun24 so that accumulated losses then would be less than Contributed Equity.
I would expect the only borrowings at 31Dec24 will be the leasing debt to CAT of maybe ~$50mil and expect profits for six months to 31Dec24 to be in the vicinity of $65-70mil. There will be no impediment to them paying a dividend out of these half year profits in Feb/Mar next year.

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So, you see them making a net profit this half year?

KCN Price at posting: $1.58 Sentiment: None Disclosure: Held
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