KCN 5.39% $1.58 kingsgate consolidated limited.

Ann: Chatree Plant 1 First Gold Pour, page-164

  1. 2,445 Posts.
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    I have no idea anymore what is going on. I was hoping that the TAFTA thing would be settled before the end of the month and that a large amount of cash compensation would form part of the settlement, but I'm not sure if that is still on the table. No matter what concessions the company gets in terms of tax holidays, additional exploration rights (SPIs) and the like, the fact remains that the company was almost sent to the wall and has had to spend millions in refurbishing the plants as a result of the illegal mine closure. Whilst it's great to have our mine back and to have both plants now running, I would have thought some real compensation was due. Ross and Jamie have always given me the impression that a cash settlement would form part of TAFTA negotiations, so I guess if that is not forthcoming then the best thing is to extend TAFTA indefinitely. So far, everyone seems to have done very well except shareholders. A final thing - something has to be done at some stage to stop this ongoing wreckage caused by price setting algorithms, not just in respect of Kingsgate, but many other companies on the ASX.
    Last edited by Wary1: 18/06/24
 
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