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Business Description: Kingsgate Consolidated Limited (KCN) is a gold producer and exploration company. The company owns and operates the Chatree gold mine in central Thailand, the Challenger underground gold mine in South Australia and is undertaking feasibility studies on two development projects, the 100% owned Nueva Esperanza silver/gold project in Central Chile and the Bowdens silver project in NSW.
Strategy Analysis: KCN's strategy is to explore, own, develop and operate high quality precious metals projects and become a mid-tier gold producer. Following the development of the Chatree gold mine, KCN will develop further high quality projects, in South East Asia, Australia and South America. In Thailand the strategy is to expand and explore within the mine lease, locate satellite deposits within trucking distance of the Chatree mine and, locate new deposits within the Thai gold belt.
Kingsgate Consolidated reported NPAT down 76% to $8.1m for the half-year ended 31 December 2012. This was impacted by a non-cash write-down of $14.9m relating to the sale of greenfield exploration properties and a write-back of the balance of capitalised borrowing fees of $1.8m following the Akara re-financing. Revenues from ordinary activities were $161.69m, up 10% from the same period last year. Basic and Diluted EPS was 5.3 cents compared to 24.1 cents last year. Net operating cash flow was $28.74m compared to $24.61m last year. The interim dividend declared was 5.0 cents compared with 10.0 cents last year. The outlook for the group is for a stronger production performance in the second half of fiscal year 2013. Chatree Plant 2 will be operating for a full six months and Challenger will benefit from the accelerated development program.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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