KMC
KMC is worth under $24 million. It has a resource of over 300,000 oz of Au, worth over $500 million at today's POG before cost, and the company is expecting to uncover more gold. After cost, that amount of gold will generate around $300 million. In 2012, it will be processing its own ore.
Meanwhile, NZO's chief was lamenting that the market is undervaluing its share because it is worth $480 million and the market cap is only around $245 million. Because it is a NZ company, these figures are in NZ$.
He should sell his shares and put every single cent in KMC which generated AUD$6 in revenue in under 3 months. There is undervaluing and real undervaluing.
posted by Club Mulgoa @ 3:02 PM
3 Comments:
This is still crazy as share price going nowhere even after recent upgrade should have brought it to the market's attention.
Speaking of undervaued gold. How is it that there is a company bid for SBL at 2c which values it at about $45/oz which in itself is insultingly low, but it is still trading at about 1.4c. Does this mean the bid is expected to fail? I must be missing something.
SBL is worth buying at 1.4c! The bid will most likely be successful because the board is surrendering. Have they been bribed and the payment not declared? In Hotcopper, a lot of contributors are objecting to the low bid. It is extremely insulting to the shareholders, by the bidder and the board. Sometimes, it can take a long time to materialize and often, it is frustrating to own a small parcel in a foreign stock exchange. The bid price is dependent on the share price of the bidder as no cash alternative is offered; only script.
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