ASX-Listed Miner Looks To Next Quarter For Turnaround - AgainThe...

ASX-Listed Miner Looks To Next Quarter For Turnaround - Again

The June quarterly showed the abysmal journey long suffering shareholder/owners of Kaiser Reef gold mining company have been on for the past few years.

Production fell to 1,330 ounces from 1,597 oz in the March quarter and was well below the 1,746 oz in the December quarter of 2023.

September quarter 2023 output reached 2,940 oz. A trend decline in output has been evident since 3,512 oz were produced in the 2022 September quarter.

were it not for a rampaging Australian dollar spot gold price, KAU may have slipped out the back door or had ownership diluted through endless capital raises to keep it afloat in the short term.

gold sales in the June quarter averaged AUD$3,539/oz, and on Saturday the spot price was quoted around A$3,753/oz.

given the difficulty in forecasting the future price of gold, it's fair to say KAU's survival has a lot to do with serendipity.

long term holders have been seduced by and succumbed to a narrative based on several key elements, including that current management are a cut above the management of previous failed owners.

and, by spending way more than A$20 million rejuvenating the Maldon plant, re-equipping the A1 mine and undertaking costly development work that this is the way forward.

who knows, it might well be, but there's no evidence of this yet. Always the next quarter, or the one after that etc.

Classic carrot and stick stuff for donkey investors in golden dreams.

so to summarise: holders are in the box seat, tens of millions of dollars have been spent spent spent, a smattering of diverse institutional investors materialized on the register, the spot gold price has had the mother of all runs in recent times and retail holders are strapped in waiting for ignition and lift off.

Next quarter?