KMN - Kings Minerals

[Sean K]

This company has an MC of about $90m and have about 70% of a major Cu/Au/Ag project in Mexico: open pit hill, low strip ratio, great infrastructure, well financed, ready to rock:

I'm a bit busy right now, but will do the numbers on what an IGV of 654 kt Cu, 4.5 Moz Au, and 202 Moz Ag is in a little bit.

Then they have a Mo, Cu, Au, Re, U project developing in QLD.

Ok with Cu @ 8250 tn, Au @ $880 oz, Ag @ $17, current IGV of San Anton:

Cu = $5,395,500,000
Au = $3,960,000,000
Ag = $3,434,000,000

Total = $12,789,500,000 IGV

Current MC about $80m

Wonder how much they will be able to produce and at what costs to make this take shape.

Still, I agree with YT, at this stage WOOF!

 

[doogie_goes_off]

Also holding knives, hopefully will get to throw a couple by Aug/September when this one recovers.

 

[Sean K]

Ok with Cu @ 8250 tn, Au @ $880 oz, Ag @ $17, current IGV of San Anton:

Cu = $5,395,500,000
Au = $3,960,000,000
Ag = $3,434,000,000

Total = $12,789,500,000 IGV

Current MC about $80m

Wonder how much they will be able to produce and at what costs to make this take shape.

Still, I agree with YT, at this stage WOOF!

And, to put the $ into perspective. $12.8b into gold at $890 = 14.34m oz au equiv.

KMN effectively own 47% of this which comes to 6.7m oz au equiv. To get a rough value, oz au to current MC = $11.9.

I think this is quite absurd for an explorer with an advanced JORC, an initial scoping study and another due in the next quarter to take it through BFS and development. On average I think developers sit around the $60, while producers are above $100.

Not many deposits like this sitting unmined at the moment, less Tampaken. Surely it's going to progress?

However, I still can't make heads or tails out of the sp/mc pressure. Very unloved. As always it makes me concerned that it's unloved for a reason. Perhaps metallurgical test work proves it's not economic? That can be the ONLY thing that will not take this forward to mining I feel.

I'm only in for a few at the moment but have an itchy trigger finger on the numers above.

WOOF!

 

[Sean K]

Oh, I forgot to add in the value of Kalman initial JORC.

The Inferred Mineral Resource estimate contains a total of 172,200t Cu, 27,800t Mo and 250,900oz Au. (Mo @ $78 kg, $7800 tn)

On current prices that is:

Cu = $1,420,650,000
Mo = $216,840,00
Au = $223,301,000

Total IGV = $1,659,820,100

In gold oz = 1,864,966 oz au equiv

Now add in to the previous oz au equiv for San Anton:

6.7m oz au equiv
+
1.85m oz au equiv

= 8.55m oz au equiv

New MC to oz au equiv is:

8.55m oz into $80m MC = $9.35 an oz au equiv

Kalman upgraded JORC expected in the coming months which will reduce it even more.

The market isn’t factoring in much value to this company right now.

But again, maybe for a reason…..what?

 

[prawn_86]

But again, maybe for a reason…..what?

Everyones too busy chasing the latest 'hot' sector, or stocks with MCs below $20 mill

Or the reports have been doctored and they actually dont have anything! LOL

 

[Sean K]

Seems the information above is incorrect. The Mo price per ton needs another zero.

So, IGV and mc to oz au equiv for KMN is actually:

San Anton: 6.7m oz au equiv

Kalman:172,200t Cu, 27,800t Mo and 250,900oz Au. (Mo @ $78 kg, $78000 tn)

On current prices that is:

Cu = $1,420,650,000
Mo = $2,168,400,000
Au = $223,301,000

Total IGV = $3,812,351,000
In gold oz = 4,283,540 oz au equiv

With San Anton:

6.7m oz au equiv +
4.3m oz au equiv

= 11m oz au equiv

MC to oz au = $7.27

 

[Sean K]

MC to oz au = $7.27

Those figures may be for a reason, which I have discussed previously, but at sub 20c, on the sum of all fears, is compelling.

Another sign of a turnaround here with a higher low, but this has occurred all the way down.

Can't see how the IGV can not form a base at some point, which should have been some time ago.

On the known resource, I think the cheapest explorer/developer in the market.

Potential bottom, as shown, potential breakout from downtrend in light green circle, breakout about strong circle.

 

[doogie_goes_off]

Yes this has become very cheap, accumulated a few a 22c which averages my buys more like 25c, so I'm expecting it to sneak above this by the time the upgrade the Kalman Resource.

 

[doogie_goes_off]

A Strange sell pattern of just under 60 shares being sold at 23.5 holding the price back??

12:46:51 PM 0.235 59 13.87
12:42:29 PM 0.235 57 13.40
12:38:37 PM 0.235 56 13.16
12:37:14 PM 0.235 55 12.93
12:36:53 PM 0.235 56 13.16
12:36:35 PM 0.235 58 13.63
12:36:17 PM 0.235 59 13.87
12:36:13 PM 0.235 14,717 3,458.50
12:36:13 PM 0.235 25,000 5,875.00
12:36:13 PM 0.235 8,000 1,880.00
12:36:13 PM 0.235 1,594 374.59
12:33:26 PM 0.235 56 13.16
12:33:23 PM 0.235 5,000 1,175.00

 

[YOUNG_TRADER]

woof woof is the comments I'd say on this one Kenna,

I bought thinking it had bottomed only to see it fall through 20c support to hit 17c, however saying that it did rebound back above 20c,

I think the company has no doubt lost alot of credibility and shareholders look like they just want out,


anyone got a band aid for my hand? I tried to cacth a falling knife for a trade :

Well the bounce came and my hand was so sore after I thought I'd caught a falling knife,

I'm out for a small profit on a really ****e day, can't complain

Kenna fundie wise it looks good but technically the fact it broke well below 20c after I bought spooked the crap out of me

Good luck

 

[blehgg]

A Strange sell pattern of just under 60 shares being sold at 23.5 holding the price back??

12:46:51 PM 0.235 59 13.87
12:42:29 PM 0.235 57 13.40
12:38:37 PM 0.235 56 13.16
12:37:14 PM 0.235 55 12.93
12:36:53 PM 0.235 56 13.16
12:36:35 PM 0.235 58 13.63
12:36:17 PM 0.235 59 13.87

Yea I saw this in TNG today too.. ~ alot of mini buys ramped the price up 20% lol ~

I wonder if its just bots messing around before financial year ends

Glad I bought a small parcel of KMN on close yesterday arvo ~ 21c ~

 

[PhoenixXx]

I'm out for a small profit on a really ****e day, can't complain

Me too...sold at opening. Driven by 'fear' after last night's tumble...
Anyway, Happy enough to make some profit...having fallen below 20ct drove me nuts

 

[Sean K]

Those figures may be for a reason, which I have discussed previously, but at sub 20c, on the sum of all fears, is compelling.

Another sign of a turnaround here with a higher low, but this has occurred all the way down.

Can't see how the IGV can not form a base at some point, which should have been some time ago.

On the known resource, I think the cheapest explorer/developer in the market.

Potential bottom, as shown, potential breakout from downtrend in light green circle, breakout about strong circle.

Might have caught the knife by the handle. Up 23% Friday to 26c and potential breakout territory.

It's still barking though IMO, until that harder green circle above 30 is met. Might have missed the big gains by then however. Or, saved your bacon. RR.

 

[panikhide]

Might have caught the knife by the handle. Up 23% Friday to 26c and potential breakout territory.

It's still barking though IMO, until that harder green circle above 30 is met. Might have missed the big gains by then however. Or, saved your bacon. RR.

Kennas - congratulations for picking this as a break out. I hope you did well out of it. I unfortunately was too concerned about getting my fingers burnt after the stock dropped to 17 cents and stayed away from it.

Can I get you to explain a little more clearly what you mean above? Are you saying that you think there will be no support at these levels until that harder green circle above 30 is met and that you expect a bit of a plunge if it is not met?

 

[Sean K]

Kennas - congratulations for picking this as a break out. I hope you did well out of it. I unfortunately was too concerned about getting my fingers burnt after the stock dropped to 17 cents and stayed away from it.

Can I get you to explain a little more clearly what you mean above? Are you saying that you think there will be no support at these levels until that harder green circle above 30 is met and that you expect a bit of a plunge if it is not met?

Well that was short lived. What an amazing turnaround intraday on huge volume for this. Someone still trying to unload the stock perhaps. I didn't see course of sales so no idea. Perhaps some bad news is in the wind. They should get a please explain for that I think.

The two circles are just above resistance at 25 and 30c. Breaking those is the key to starting a new up trend. Failing at these levels and it's still going sideways and down. Not necessarily plunge, just directionless.

It's till barking.

Looks like it's still barking.

 

[Sean K]

I reckon this was the same joker as yesterday proping up the bid side to make it look strong and then pull it on the open.

We will see.

Great recovery from 17 c just a few days ago.

Drilling results and revised JORC from Kalman due.

 

[blehgg]

he didn't pull

or he forgot too ~ ended up going through

10:06:05 AM 0.290 254,452 73,791.08

 

[Sean K]

Amazing grades:

The Directors are pleased to announce a highly significant intersection from ongoing drilling within the Kalman deposit located within the Mt Isa project.

Highlights:

Massive chalcopyrite intersection in drill hole K-106A of 7.65m @ 23.4% Cu, 0.51g/t Au, 20g/t Ag
from 581.65m

WTF!!!

8m at 23% Cu!!!

That is off the scale.

And this is the exploration target.

Confused as hell..

 

[Sean K]

Amazing grades:



WTF!!!

8m at 23% Cu!!!

That is off the scale.

And this is the exploration target.

Confused as hell..

This is massive IMO.

Please excuse me while I get my teath off the floor.

1% Cu is usually good.

23%!!

Geeez!!!!!!!!!

This company must be really in the dog house!!!!

 

[prawn_86]

This is massive IMO.

Please excuse me while I get my teath off the floor.

1% Cu is usually good.

23%!!

Geeez!!!!!!!!!

This company must be really in the dog house!!!!

Perhaps they will release a clarification saying it was actually 2.34%. Wouldnt that just endear them even more to the market