KALNORTH GOLD MINES LIMITED (KGM)



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General Information
Company Name: Kalnorth Gold Mines Limited
Stock Code: KGM
Website: www.carrickgold.com
GICS Sub-Industry: Gold
Market Cap ($M): 17
Equiv. Shares (M): 170

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.100 $ 0.000 $ 0.000 $ 0.000 $ 0.100 0 0%

Company Overview

Business Description:
Carrick Gold Limited (CRK) is a gold exploration and development company with a portfolio of projects located in Western Australia. The Company’s suite of tenements covers an area of approximately 1320 sqkm. CRK focuses on four main projects, namely, Lindsay’s, Kalpini, Mt Jewell and Kurnalpi projects, collectively the LKK Project.

Strategy Analysis:
CRK intend to deliver shareholder returns through the discovery, delineation and development of gold and nickel resources. CRK aim to achieve this via maintaining low cost of discovery on existing consolidated tenement holdings in the North Eastern Goldfields. In addition, CRK maintain a project pipeline with targets at differing stages of maturity whilst also identifying prospective targets for future acquisition and development. Finally, CRK is open to exploring joint venture options for non-core/high risk targets which will enable continual exploration and discovery on its greenfields prospects.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A -2.6 -1.8 -- 0.0 0.0 0.0 --
2011  A -1.8 -1.3 -- 0.0 0.0 0.0 --
2010  A -1.2 -0.9 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Beadell Resources (BDR) $523 M -- -- 0.1940 -- 3.9583 3.3151 0.0000 0.0000 0.0477
Kalnorth Gold Mines (KGM) $17 M -- -- -- -- -- -- 0.0000 -- --
Newcrest Mining (NCM) $8,547 M -0.0378 -0.4892 0.0930 7.8804 15.4261 14.1139 0.0314 0.0174 0.0224
OZ Minerals (OZL) $1,241 M -0.6077 -- -- 9.8199 -- 39.4788 0.0733 0.0108 0.0212
Regis Resources (RRL) $1,642 M 0.7775 1.2121 0.3428 22.7273 10.2740 7.6514 0.0000 0.0580 0.0850

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
KGM -- -- 0.24 -- 100.0
Market 0.82 14.1 1.19 1.94 1.63
Sector 0.54 8.13 0.58 2.01 6.08

Directors
Name Position Start Date
Mr John McKinstry Chief Executive Officer,Managing Director 01 September 2011
Mr Robert Paul Schuitema Company Secretary,Executive Director,Executive Deputy Chairman 09 September 2010
Mr Laurence Stephen Freedman Non-Executive Chairman 18 August 2010
Mr Henry Jian Yu Non-Executive Director 26 November 2012

Management
Name Position
Wade Johnson Group Exploration Manager

Substantial Shareholders
Holding Name
14,710,000 (10.45%) Susan Marie Carr
21,208,591 (15.07%) Link 405 Pty Ltd
26,700,000 (18.97%) Cross Straits Common Development Fund

Calendar of Events
Date Event
29 April 2014 Report (Quarterly)
29 January 2014 Report (Quarterly)
23 October 2013 Report (Quarterly)
21 October 2013 Report (Annual)
25 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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