Sounds like rubbish, as KCN has been listed for over 10 years!!!
Although most of its rise occured in the last 15 months (it was about 75c around October 2001), and this could explain some sellers waiting for their 12 months to be up.
I think that the main reason for the price reduction would be almost solely due to the fall in the price of gold.
Remember that KCN is unhedged at the moment, so ever dollar reduction in the gold price directly reduces their profit as they are such a low cost producer. Assuming that there are about 60,000 ounces left to produce to the end of the financial year, ever $1 reduction in the price will reduce the profit by approximately US$60,000 for the current year.
Regards
Marvin
how does this sound, page-3
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Last
$1.56 |
Change
-0.020(1.27%) |
Mkt cap ! $402.0M | |||
| Open | High | Low | Value | Volume |
| $1.59 | $1.60 | $1.56 | $685.1K | 435.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9998 | $1.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.58 | 2724 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$1.57 |
Change
-0.020 ( 1.26 %) |
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| Open | High | Low | Volume | ||
| $1.57 | $1.60 | $1.56 | 17710 | ||
| Last updated 15.16pm 14/06/2024 ? | |||||
| KCN (ASX) Chart |