1. Most Discussed
  2. Gainers & Losers
KCN 26.0¢

great half yearly result

  1. Great Half Yearly Result by Kingsgate.

    12.5c dividend
    33.5c EPS
    US$77/ounce cash cost of production.

    Looks like dividend would have been higher, except for the fact that they are funding the plant expansion entirely from cash flows.

    Significant repayments of debt is occuring.

    Drilling has been expanded to 14,000 metres which is a good sign.

    Given that the wet season occurs in the first half of the year and ounces produced was 77,071 and full year is still expected to be 160,000, it looks like full year will be much better than in prior year.

    Directors have clearly said in Directors Report "In the expectation that the strong gold price continues and Chatree performs to expectations, Kingsgate is currently forecasting that the profit after tax WILL exceed US$25m". This is the first time that they have said that they believe that profit WILL exceed previous forecasts, not just may.

    If gold price holds up, this year could be a bumper profit.


Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.