Well, that little PR exercise in advance of the Quarterly Report sure backfired. KSN down 7.9% on the day at the close and as low as 6.6 c during the day. Based on info provided to date, I actually consider KSN to be one of the most undervalued gold producers on the market, even prior to today's reaction. Yes, KSN has been producing for the past couple of years and has enough prospects from Mineral Hill to retain its undervalued status, even if Misima is written off. The DFS for the Mineral Hill expansion had an IRR of 171% at a gold price of US$1780/oz.
Some one/some outfit has reacted strongly by selling off today but I cannot determine anything in the announcement to justify this. Is there some bad news still to come that has not yet been revealed?
Ann: KSN 2023 Year in Review, page-2
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