KCN is just following Gold miners sentiment. If you read the following 2 essays by Scott Wright he explains that since Jan 2011 where Gold has risen 17%
Major Gold Producers are down 18% (eg Barrick, etc)
Small cap producers are down 40% (KCN would be here)
Explorers are down 49%
Gold stocks are way oversold compared to the POG and sooner or later something has to give. The HUI/Gold ratio is something like 0.28 where for the 2003-2008 period it averaged 0.51. This means Gold stocks must increase something like 80% to get back to the previous HUI/Gold ratio (or Gold would have to fall to around $900)
http://www.zealllc.com/2012/jnrexpld.htm
http://www.zealllc.com/2012/hgrpanic.htm
what is going on, page-2
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Last
$1.60 |
Change
-0.045(2.74%) |
Mkt cap ! $412.4M | |||
| Open | High | Low | Value | Volume |
| $1.65 | $1.69 | $1.59 | $3.045M | 1.886M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8968 | $1.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.61 | 20000 | 1 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| KCN (ASX) Chart |