Do you want a 12% return +growth

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    Kingsgate at $2.75-80 is yeilding about 12% with a dividend of 30c/year. and Earnings of approx $ 50mill/year.

    The company is on target to produce 160,000 oz of gold and some silver at a cash cost of $us80/oz.

    Recent resource evaluation suggests that mine life is well in excess of 12 years at current rate of production.

    A phone call to the company today confirmed that production is on target and the recent shuffle on hedge has significantly increased potential profit of the mine NO MATTER WHAT THE PRICE OF GOLD is on any one Day---the company is recievinf well over $320 right now.

    I cannot see any real risk in the future earnings on such a well managed enterprise.

    I topped up today at $2.75
 
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