This morning I went to KCN www site to review some of the...

This morning I went to KCN www site to review some of the presentations.

In January in discussing half year results it was said

Production 210k oz
Revenue $357m
EBITA $168m

ProfitBtax $91
Profit After tax $75m
=52c/share...

Now this year production 200k- in abetter 2nd half
my call an OVERALL MARGIN 500k/oz expecting a EBITA approx $80.

Chatree has some better grades to come on line to compensate price drop and tonnage treatment is considerably higher.

I notice from Kito site that many gold companies are expecting high profits by deferring some expenditure and some cost savings.

Challengers drag on expenditure is falling and the two silver projects are undergoing studies.

Bowdens possible cost is around $7-8/ per once,min you it will be some time before this projects comes in...so what it is value in the ground for the future.

IMHO there is few gold /silver companies with this sort of cash flow...it will rebound.