Ann: Full Year Statutory Accounts, page-61

AGM is coming up I hope someone asks about their Cashflow forecasting.... When Jamie said 'King of low grade' at Diggers and Dealers, this was KCN before the closure it was low cost producer US$ 600-800/oz AISC, Just prior to closure they wrecked the mine plan and managed to produce $70 fcf in 6 months at much lower POG.

KCN Chatree mine current operations is a different beast from the past, they don't have smelter, they have outsourced refining, they don't own any of their mobile fleet, fully outsourced to Lotus Hall. The projected AISC cost is pretty average. However the saving grace is that POG is a lot higher now than back then, prior to closure. If KCN can achieve full ramp production some time in Qtr 1-2 CY2016, at current POG levels, and their AISC projection is correct, then KCN should be operating on strong fundamentals, next year CY24. But geez this CY has been woefully and getting towards full ramp has been rocky.. The quarterly sent alarms bells when many people spotted the negative operating cashflow... KCN has said next quarterly will be positive.. I hope there are no nasty surprises.