The additional problem for BGL is that they've had to issue 300mil shares or over 25% additional shares from what they had on issue just nine months ago in Jul24 - from 1.176mil shares to 1.476mil shares - will shareholders from last July ever be able to recover from such dilution? Unlikely IMO. At least the dilution to KCN in Mar23 was only 36.5mil shares or around 16.5% additional shares and we don't have any hedges down the track that might still cost BGL shareholders in the future. March25 quarterly production: BGL 25k ozs Au, KCN 20k ozs Au - yes KCN won't be able to keep up in the future but KCN's market cap today is $402mil v BGL(@ 90c) $1.328bil and BGL still has lots of negative hedges. Sorry I'm staying here.
KCN Price at posting:
$1.56 Sentiment: Hold Disclosure: Held
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