Macquarie Bank rate KCN “Underperform” with a target price of $0.50.
Key points of Macquarie note:
- Surprise exit of CEO, CFO, NED
- Concerned by reserves downgrade at Chatree – reduction of reserves by 420koz, much more than the 135koz of production in FY14
- Downgrade in avg grade of Chatree reserves from 0.87g/t to 0.80g/t
- Forecast losses for next two years for KCN, only just break even in FY17
- Reserves and grade reduction shortens Chatree mine life by 2 years
Macquarie Bank rate KCN “Underperform” with a target price of...
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Last
$1.61 |
Change
0.055(3.55%) |
Mkt cap ! $413.6M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.61 | $1.55 | $1.070M | 679.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $1.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.61 | 3694 | 1 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |