Ann: Record Daily Production in February, page-10

Again, in the end there is in fact no million dollars profit a month. They have expenses outside the AISC which could easily lead to nearly zero net profit in 2023, like last year. Just look what Kingston wrote in their recent finance report:


And the resource (3,2 million ounces) was already there when they bought the last 20% for 2 million AUD. They decreased grade from 0,93 to 0,79 g/t, which increased the resource (and little bit of drilling which of course the company usually finances through continuous dilution).

I also bet on a time when market gives more value to ounces in the ground, but in this high interest environment it is just not the case. This is not a Kingston specific undervaluation, it's sector wide.

Sorry, I still think altogether my estimate of situation and valuation is quite appropriate. But I hope you are right.

let's agree to disagree.