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KCN - Kingsgate Consolidated

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I think i read they have been given the go ahead for a mine in South America, but even if that is correct wouldn't they still need a cap raising? Unless they are hoping on a Thai payout to cover it?

I don't hold
 
About the Nueva Esperanza project in Chile, they have developed it to a high degree, defining resources (silver gold) and covering stuff like mine plan, permitting. They have left options open as to whether to build a mine themselves, jv or sell the project. It's said they've had offers but none have appealed. Before the insurance settlement over Chatree (Thailand) the pressure was on and they were trying to dispose of Nueva Esperanza. After the settlement everyone chilled and management continues to appraise options with a minimum being spent on the project while it idles. All the while silver price looking better and enhancing the projects implied value.
 
Boom - gap closed, bloody amazing.
Announcement out that basically tells investors to cool their heels and take no notice of the rumours in Thai newspapers. Company is at rest, still awaiting tribunal's decision on Chatree. That's good for chasing off some hot money. Might be pre-emptive to avoid speeding ticket.
Oh, the announcement does include this however, " ... more recently there has been a positive dialogue with the Thai Government as to how this (negotiated settlement) might be achieved."

 
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I agree with everything you said.
I used to live in Thailand and still have many Thai connections and all are very negative about the company and their prospects.

So nice to see the upswing. As I always viewed it as a victim of vested interests.
 
The very first concession from the kleptocrats.

Update on the Gold Sludge held at the Chatree Gold Mine, Thailand
Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) is delighted to
announce that its subsidiary, Akara Resources, has been granted permission by the Thai
Government to sell the high value gold and silver “sludge,” which is secured at the Chatree
Gold Mine, to a Thai refinery to be processed into fine gold and silver.

The sludge refers to material cleaned from the tanks and processing plant following the
closure of the Chatree Gold Mine on 31 December 2016, and has always been, and
acknowledged to be, the property of Akara Resources.

The sludge contains approximately 4,750 ounces of gold and 34,800 ounces of silver, and
is valued at around A$14 million at a gold price of A$2,678 an ounce (as at 9 September
2020) before royalties, transportation and refining costs.
 
In my view KCN is likely embarked on another run here if we get a close above 90c today. Investors/speculators have been scenting litigatory victory since March 2019 and with greatly increasing confidence.

Held
Sentiment: Hold

KCN 1 Year Daily
 
Tacked on another 8,000 @ 76.5c today, think it was mostly succumbing to an urge to do something in the market.

1 Year Daily
 
Was thinking today is there anything fundamental to this stock or is it a speculative play.

I've bought this falling knife before so beware.

disc: Very long term (bottom draw) holder.
 
Hi @UMike, it's both I have to say. You have Nueva Esperanza, they still own Chatree, they've got a powerful legal case pending - isn't that fundamental? Maybe they lose the case (umm, no imo), maybe the decision is unenforceable (can't see it and the Thai kleptocracy has just recently signed some tightened trade agreement with Australia I read).
Anyway, I added 5,000 today @70c, it's risk on! But the chart is bad on a daily basis, I expect lower.
 
Hi @UMike I bought in at mid 30's, sold out at mid 60's, but in my case it was a speculative play, so as usual I sold out early. ?
I've just done the same with VUK, bought at 2.30 falling, dollar cost averaged at 1.10, sold at 2.40 a couple of days ago, today 2.60 the story of my life. ?
No one has a crystal ball, you make your choices, you take your profits and try to recover your loses at the end you hope you are in front. ?
When you are relying on the profits for your income, it tends to make you trigger happy, I find.
The other option is to become a really good trader, as per @peter2 @Skate and several others on the forum, then at least you are minimising your risk.
My buys and sells weren't stabs in the dark, with Kingsgate they had a very good chance of a favourable outcome on the Chatree mine, but any litigation against an Asian country is problamatic IMO.
With VUK the 6th biggest bank in the U.K, bad press falling price last year, then things got worse but still a decent brand.
The virus hit an whammy down to $1.10, I had to take a punt and if they pull back I will probably buy back in.
I just needed the money for a nickel play and I thought with the U.K in another lockdown and Brexit looming there was better options elsewhere, but a couple of days makes a lot of difference.
So really no one can tell you how to play your hand, you have to work out what works for you and what you are comfortable with.
Just my opinion.
 
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I pulled my bid for 5,000 more @ .655 today.

It's one of those times where I have allowed my 'fundamental' enthusiasm for a stock's prospects to eclipse an objective viewing of the chart. Reading technical commentary of others elsewhere prompted me to look at the chart impartially and the current chart is not one I would have been buying if I had no preconceived opinion of the company. So I will start bidding again if the price gets down around 0.55 (where there's a gap) or maybe 0.50

The confirmatory high volume day (at the end of Oct) following the break of support at ~0.80 isn't something I would ordinarily ignore, just got wishful I guess.

Adding to the confused sentiment is the unknown date of the publication of a settlement or, alternatively, an arbitration judgement as that day will obliterate technicals, for better or worse.

1 Year Daily
 
Hadn't foreseen this as a significant interjection before settlement or judgement - although others had. Like the release of the gold sludge it does seem to foreshadow capitulation towards a settlement by the Thai corruptocracy. Price gapped up and has been ranging between ^ 9-10%

 
Not much on the market catching my attention lately but just added 10,000 KCN @ 0.795
Two reasons:

Return of optimism about the chart - allow me to bore you. The rapid bounce back to the 80c level via a weekly tweezer low, the following doji outside the downtrend channel (ignore the volatile wicks at the high)

Secondly, the undisputed king of interpreting the subtle political and legal machinations over Kingsgate in Thailand, 'densamer', has today tweeted about the Thai p.m sh***ng his daks and sweating bullets in cabinet (see screen grab)

Weekly


 
I've only had a skim read of the whole scenario here, but has anyone put an estimate on what Kingsgate may eventually "negotiate" with the Thai government as a settlement?

Kingsgate were awarded $55 by the Courts ?? Is that correct @finicky ?? Is it possible that figure could be substantially higher given the time factor?

Appreciate any info/thoughts.
 
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