KCN (ASX) Dividend Potential

Originally posted by Edhammond159: ↑

I feel like Billy Bean. I am hyperaware of unhelpful antagonism, but we need to re-educate how to read balance sheets if you don't see the "problem". Cult investor behaviour is a complete blanket for management to keep doing what they're doing. I could not BELIEVE that Jamie appeared at a conference and described us as the "king of low grade". Can you even believe the lack of professionalism and complacency to be selling your company that sits on vast exploration licenses? One's inclination is to jump to defend that clown behaviour, but that is defense of one's own ego, because we are here. It is cultist that we sit here receiving two RNS' from management, immediately after an annual report that gave us zero visibility about how we will address a cash flow problem that may arise as a result of macroeconomic conditions that may precipitate into significantly less receipts of sales than we have experienced, but we celebrate requisite production like it's a first birthday. We need cash, and fast. MATHS NEVER LIE. The answer to that riddle, is of course, sitting in your back pocket. AGAIN.

"Things outside of management's control" are things we pay management to contingency plan for. If YOU can think of it, why do you want to pay the salary to a mining executive to eat golden (literally) fried Jing Reed to answer. It behooves one to ask, why are we paying a near 10mio carrying cost of NE? Again, we dream on DMT. Is it because of some convexity/optionality on the price of silver that it will be some windfall, some day? Would it not be more prudent to just buy SILVER CALLS. They would be a hell of a lot cheaper and let me give you a clue, notwithstanding the impossibility of that corporate action being taken, we are bleeding cash. Diluting or delusional? It is a thought exercise, what is it that leads us to defend the behaviour of management in the face of continued poorly played poker hands? Ego.

I consider myself a reasonable (insert pronoun). I am in for the long haul. KCN die hard - preaching to savvy institutional investors, friends, family - for three-plus years. As a reflection exercise, I take snapshots of timelines and actual long-term progress and DELIVERING ON PROMISES, not on short term share price volatility. RSK & co wrestled a company back from the jaws of defeat. They deserve heaps of praise for that, but we are two years on from that. We have an arbitration award, so we shouldn't be long of desperation. Tough political climate? Ok. But, how have we struggled to sell our story for financing? We were told we would not need a cap raise, and look at us now. The majority of local-listed junior miners enjoyed a wonderful run of form this year and we suffered because our management couldn't deliver despite sitting on an arbitration award. In what world can you agree with the stupidity, of believing in some Thai bank/consortium financing option being dangled to us when we have an actual award that could be borrowed against. You mean, we are sitting on an award we could securitize and borrow against than be diluted to pay Taurus? Did we forget that?

The reasons for our share price slide are simple. We placed a bunch of equity into the hands of anyone who would take it and was pitched to us that it was an opportunity. Our share price never went above the issuance level because those investors NEVER had any interest to back our management - whom knew that. We needed cash, and now anyone looking to capitalize on rising gold prices via KCN holdings has become the exit liquidity patsy for poor delivery of management promises and an overall blanket for terrible management. Is it a coincidence we never saw the sun above the 1.50 peak since our CR? Leave room for doubt I was told. I find it AMC/GME-like that we are all here, still blabbing about what could-have-been/could-be, when we are all facilitating our own frustration with these baggie-banalities. I feel I am being both honest and harsh. I own 500k shares and haven't bailed out of one share in the last year. So, if I just raised your temperature enough to complain, good. You're getting it. I am in the huddle with you.

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Nice vent. Generalisations and labelling LT holders as cultists (after admitting your one yourself) is like the GOP accusing the Democratic Party or Putin declaring a military operation in the Ukraine is all in the name of fighting fascism.

But in terms of cash flow problems and zero visibility Appendix 5B confirms "positive cash flow" in Q3:

No.	Vol.	Price($)
2	28792	$1.32

No.

Vol.

Price($)

28792

$1.32

Price($)	Vol.	No.
$1.34	1914	1

Price($)

Vol.

No.

$1.34

1914

No.	Vol.	Price($)
2	28792	1.320
4	32705	1.315
3	28346	1.310
1	10000	1.305
6	74066	1.300

No.

Vol.

Price($)

28792

1.320

32705

1.315

28346

1.310

10000

1.305

74066

1.300

Price($)	Vol.	No.
1.335	1914	1
1.340	2555	2
1.345	2205	1
1.350	29997	2
1.355	410	1

Price($)

Vol.

No.

1.335

1914

1.340

2555

1.345

2205

1.350

29997

1.355

410

(20min delay)
Last $1.33		Change -0.020(1.48%)		Mkt cap ! $342.8M

Open	High	Low	Value	Volume
$1.34	$1.35	$1.32	$443.8K	333.0K

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