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     moleman
Member
Username: moleman
Post Number: 251
Registered: 10-2003Rating: N/A
Votes: 0
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| | Thursday, April 12, 2007 - 11:07 am: |  
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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
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moleman
Member
Username: moleman
Post Number: 261
Registered: 10-2003Rating: N/A
Votes: 0
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| | Monday, June 04, 2007 - 06:13 pm: |
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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)
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moleman
Member
Username: moleman
Post Number: 276
Registered: 10-2003Rating: N/A
Votes: 0
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| | Friday, June 15, 2007 - 11:44 am: |
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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)
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moleman
Member
Username: moleman
Post Number: 306
Registered: 10-2003Rating: N/A
Votes: 0
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| | Wednesday, January 16, 2008 - 03:35 pm: |
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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)
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stocky
Member
Username: stocky
Post Number: 162
Registered: 10-2003Rating: N/A
Votes: 0
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| | Thursday, January 17, 2008 - 01:55 pm: |
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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.
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moleman
Member
Username: moleman
Post Number: 307
Registered: 10-2003Rating: N/A
Votes: 0
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| | Sunday, January 20, 2008 - 09:53 pm: |
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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)
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