Do you want a 12% return +growth, page-3

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    KCN are on target to make a full $50 mil AUD in its first year. The mine cost approx $30 mill and by the end of this quarter I suspect that 15mil will be paid back.

    With 72 mill shares on issue the 30 c divedend is covered approx 2.5 times.

    All directors have considerable skin in the gameand have publically stated that they will have a generous dividend policy.

    The balance sheet is not complicated--you will see this in a few days as i am advised today that it has just gone to the printer in preparation for the forthcoming meeting.

    IMHO no other gold producer is so generosly priced in the market today.

    KCN represents proper value and not yet out of the woods from an agressor looking for 2 mill oz plus.

    KCN cash cost is at $80us against the major rivals at about $150us.

    Gold stocks traditionally trade about 20 times earnings,thus a major could gain considerably through a paper offer.

    15c is to be paid Oct 28 th,the current Qyartly is due about 24th Oct.
 
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