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moleman

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Post Number: 251
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Thursday, April 12, 2007 - 11:07 am:

Hi

Announcement this morning that Kingsgate has received environmental approval to double output of its Chatree mine pushing prices up 4.9%.

Commsec has the following forecast which I doubt (?) would include this expansion since the final leases haven't been granted yet.

2006 2007 2008 2009
EPS 11.1 -17.9 58.9 73.7
DPS 10.0 0.0 22.0 46.0

And the chart looks good with TMF rising and the downtrend broken. With gold on the rise I'm in.

cheers

MM

moleman

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Monday, June 04, 2007 - 06:13 pm:

G'day

The chart shows that $5.38 is an important level. The market has recently tested going lower but I think is currently rejecting that move, as shown by TMF, volume, tails on the candles over the last few days and the upturning short term stochastic. So I'm expecting a move back into the previous range. And if "With the EIA approval in the place, the Company has reached a key milestone and is now well positioned to finalise the grant of the mining leases at Chatree North over the next few months" happens, as reported on 12/4, then we should see a decent move up once the lease is granted.

cheers

MM (holding)

moleman

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Post Number: 276
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Friday, June 15, 2007 - 11:44 am:

G'day

I guess a shakeout happened over the last two weeks... Price has risen to $5.80 today (7.6% increase) on average volume meaning there have been few sellers. Also check out the Macquarie Gold Day Presentation on 5/6. The average broker consensus value is 20% above current levels with lower values at $6 and some valuing KCN at $9.

cheers

MM (holding)

moleman

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Wednesday, January 16, 2008 - 03:35 pm:

Market down 2.5% today and KCN goes up 10.2% on decent volume. TMF is very strong. I live in hope...

cheers

MM (holding)

stocky

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Thursday, January 17, 2008 - 01:55 pm:

I'm a fan of KCN.

Weekly chart, symmetrical triangle in the making but i'd expect a breakout on the next test with strong price of gold, OBV is healthy looking too.

responds well around its longer term MA's.

moleman

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Sunday, January 20, 2008 - 09:53 pm:

Hi Stocky

It all comes down to when these leases will be granted which will hopefully happen in February. In the latest Quarterly activities report KCN say:

The process for approvals for the Chatree North mining leases was completed within the national department of the Forestry Commission and awaits ministerial approval by the Minister for Natural Resources. Documentation is being prepared by the national department of Mining (the DPIM) prior to the final approval of the mining leases by the Minister of Industry. The Company believes the approval of the Chatree North mining leases will only occur following the formation of a new government and cabinet.

and:

Thai elections in December should lead to a new government being appointed and governing by February 2008. All parties have publicly expressed support for increased investment in Thailand.

Kingsgate is Thailand's 2nd largest Aus investor so you'd think it would be a real setback for Thailand getting foreign investment if the leases weren't granted after KCN have met all the regulatory requirements and won so many awards for how they've gone about things. But it's still not a done deal and if the leases aren't granted production stops in June... If they go through then there should be huge upside. Check out this story in the Australian: http://www.theaustralian.news.com.au/story/0,25197,22531527-15023,00.html

I really like TMF which is saying someone is accumulating so I'm happy to wait.

MM (holding)

moleman

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Friday, July 18, 2008 - 03:26 pm:

As said in the article above, this will take off if the leases have gone through. Dare I dream...

"Kingsgate Consolidated Limited (ASX:KCN) requests a trading halt be put on its securities immediately due to unsupported information that the Thai minister of Industry has approved the Company's mining leases in Thailand. Due to a religious public holiday in Thailand the Company cannot verify that the ministerial approval has occurred"

cheers

MM (holding)

moleman

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Tuesday, July 22, 2008 - 09:23 am:

Very happy this morning as the leases have been granted. Here we go!

http://www.asx.com.au/asxpdf/20080722/pdf/31b8hvtr7xcttz.pdf

moleman

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Tuesday, July 22, 2008 - 04:57 pm:

http://www.theaustralian.news.com.au/story/0,25197,24058471-5005200,00.html

Kingsgate to start mining Chatree North in weeks

Alex Wilson, Dow Jones Newswires | July 22, 2008

KINGSGATE was now an attractive takeover target after it was granted a key mining lease in Thailand, its CEO said.

Thai deputy prime minister and minister for industry, Suwit Khunkitti, approved the grant of the long-awaited mining lease of Kingsgate’s (ASX: KCN: quote) Thai subsidiary Akara Mining.

“Mining on the new leases will commence during the next few weeks as mining lease formalities are completed by the company and the local authorities,” the miner said in a statement.

Shares in Kingsgate shot up today on the news, rising $1.21 or 25.8 per cent, to $5.90 by early afternoon trading.

To listen to chief executive Gavin Thomas, click on Boardroom Radio.

The Sydney-based company said it will start by extending the current A pit at Chatree North in Thailand and opening up new pits nearby, all of which are near its existing production facility.

Mr Thomas said today the granting of the key mining lease in Thailand has made the company a more attractive takeover target but that it hasn't yet been approached by any predators.

Kingsgate has an open share register and Mr Thomas said it could now become a target for gold majors looking to replace their gold reserves.

“The resource and the reserve is so big that of course we are going to be looked at as a potential target, but we have not been approached nor are we talking to anyone at this stage,” he told Dow Jones Newswires in an interview.

While it has been awaiting the Chatree North approval, Kingsgate has been forced to process lower-grade ore from its existing Chatree mine.

Ore feed to the processing plant has been about one gram of gold per metric ton, but Thomas said access to higher-grade material from Chatree North will now see this rise significantly.
“We will select the nearest highest-grade ore to be processed first, so we expect the grades to jump to about double,” he said.

Kingsgate will step up its exploration program immediately as it works to further boost its resources, Mr Thomas said.

“I expect a pretty good flow of information over the next two to three quarters as we get out and drill some of these new discoveries,” he said.

When Kingsgate had previously been able to carry out exploration it had been boosting its resource base by about a million ounces a year, and Mr Thomas said he could see no reason why it couldn't restart that rate of discovery now.

He conceded Thailand has a "complex and convoluted" mining approvals process, but said it was far from the worst in the world and the Chatree North approval had been further delayed by political upheaval in recent years.

On the other hand, Mr Thomas said Thailand isn't subject to the labour shortages that have hurt mining companies in some countries and Kingsgate's operations are 99 per cent locally run, with workers having high levels of education.