The market has really lost faith in this one and is saying 'show me the money'.
Let's be conservative and assume starting capex of $180m.
Financing takes care of 50% (although could be as high as 70%): $90m.
PNG Government takes 30% stake: $54m.
Leaves a total for KGD to kick in $36m.
But we know that for PNG to take its 30% interest means they will have to reimburse KGD for sunk costs c.$30m.
If these boxes are ticked the KGD equity raising will be minimal.
And all this for a mkt cap of $18m - looks like a cheap long dated call option at these prices if they can deliver.
At least Japanese QE should keep the gold price nice and high while we wait.
The market has really lost faith in this one and is saying 'show...
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Last
1.1¢ |
Change
-0.002(15.4%) |
Mkt cap ! $7.075M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.1¢ | $8.133K | 735.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 947800 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 72860 | 1 |
View Market Depth
| Last trade - 14.21pm 25/07/2024 (20 minute delay) ? |
| KGD (ASX) Chart |