I am anticipating a couple of value drivers to materialise for...

I am anticipating a couple of value drivers to materialise for KCN in the next 3-4 months, which should give the sp a boost. LOM AISC for Chatree US$1,193/oz at about 0.81 g/t for 1moz production over 10 years i.e. 100Koz p.a. Recent announcement indicate that they target mining quartz lease with avg grade 0.9g/t and looking to achieve 120koz p.a. at full ramp up production. You would think an increase production will be also be associated with lower unit costs, if there are no significant increase in wages or inflation. If POG holds above US$2K oz I estimate in excess of ~US$97m profit p.a. at full ramp up production.

I also think the market valuing NE asset at zero, in my opinion the sp should be closer to $1.65 if the value of NE is factored into the sp. Not sure why we have several bidders that are in the data room for almost a year and have not submitted formal bids. In my experience this seems excessively long time to conduct due diligence for a trade sale. But if these bidders were 'tire kickers', they would have withdrawn from the sales process early on. So here is another value lever for KCN to materialise if trade sale for NE was to eventuate. And any sale proceeds will plough be into buy backs...