Kingsrose Mining Limited (KRM)



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General Information
Company Name: Kingsrose Mining Limited
Stock Code: KRM
Website: www.kingsrosemining.com.au
GICS Sub-Industry: Diversified Metals & Mining
Market Cap ($M): 212
Equiv. Shares (M): 359

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.590 $ 0.580 $ 0.610 $ 0.580 $ 0.570 74,348 $ 0.020  3.509 %

Current Broker Consensus Recommendation more
Recommendation: Hold (3)
Recommendation Date: 25th Jul 2014
Brokers Surveyed: 1

Company Overview

Business Description:
Kingsrose Mining Limited (KRM) is a gold and silver exploration and development company. KRM flagship project is the Way Linggo Gold Project in Sumatra, Indonesia.

Strategy Analysis:
KRM’s strategy is to grow through exploration and through the acquisition of new projects and to emerge as a low cost gold miner. KRM currently focuses on the Way Linggo property located in the Rim of Fire on the Trans Sumatra Fault Zone, Indonesia. It aims to boost production of gold and silver at the project through new production areas, such as Talang Santo. Following the mining activities schedule in 2013, KRM will continue on preparation of an updated project feasibility study, environmental impact study and foresty permit, with the production forecast for annualized rate of more than 40,000oz Au. Kingsrose Mining reported positive cash flow of $183,000 for quarter ended 31 December 2012. Operating cash flow for the period was $(5.22m). Payments for exploration and evaluation were $(1.28m). Investing cash flow was $(416,000). Financing cash flow was $5.82m. Cash in hand at the end of the quarter was $8.84m.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F 17.4 4.7 -- 12.6 2.0 3.4 --
2014  F -7.5 -2.2 -540.0 -- -- 0.0 --
2013  A 1.6 0.5 -92.2 153.4 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
BHP Billiton (BHP) $125,256 M -0.2435 0.1812 -0.0806 16.3700 13.8583 15.0736 0.0321 0.0327 0.0345
Iluka Resources (ILU) $3,685 M -0.6600 -0.9009 12.5789 28.6925 289.4737 21.3178 0.0102 0.0163 0.0193
Kingsrose Mining (KRM) $204 M -0.9158 -- -- 105.5556 -- 12.1535 0.0000 0.0000 0.0351
Rio Tinto (RIO) $28,364 M 0.5848 -0.3342 0.1273 8.4768 12.7310 11.2929 0.0330 0.0346 0.0369
Sims Metal Management (SGM) $2,294 M -0.7514 4.5317 0.6551 133.9307 24.2117 14.6287 0.0000 0.0000 0.0198

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
KRM 0.77 -- 2.58 -- 8.29
Market 0.99 16.7 1.26 2.13 1.66
Sector 0.82 12.7 0.69 1.76 5.15

Directors
Name Position Start Date
Mr Scott James Huffadine Managing Director 13 January 2014
Mr John Christopher Morris Non-Executive Chairman 17 August 2007
William Phillips Non-Executive Director 12 January 2005
Mr Andrew Spinks Non-Executive Director 22 August 2012

Management
Name Position
Joanna Kiernan Company Secretary
Herryansyjah President Director - PT Natarang Mining

Substantial Shareholders
Holding Name
32,300,000 (9.62%) Advanced Concept Holdings Ltd
36,098,268 (13.07%) Rex Harbour and associates
20,000,000 (5.96%) KRM (WA) Pty Ltd

Calendar of Events
Date Event
24 July 2015 Report (Quarterly)
28 April 2015 Report (Quarterly)
30 January 2015 Report (Quarterly)
29 October 2014 Report (Quarterly)
03 October 2014 Report (Annual)
© 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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