you guys might get a bail out. i bought at 0.9 cents , sold at 0.3 cents. my worst stock decision. good luck all.
haha the nextmining boom!
KBL’s Gold Production Exceeds Expectations
17/8/16
Since we last
covered the low cost Australian gold producer KBL Mining (ASX:KBL), the company has strung together a combination of positive announcements as it mounts a major turnaround.
With the price of gold having held its ground after reaching new all-time highs, to be $1750 per ounce at time of writing, KBL is increasing revenues and paying off its debts.
The company has survived stormy weather and an attempted board overthrow and is now intent on gaining ground as it makes up for lost time.
KBL started by fixing the rain damaged haul road that slowed production in June and since it was able to open up the infrastructure, the company has been able to exceed its July production forecasts.
Things are starting to turnaround for KBL and the good news is its main Mineral Hill project is only in the early stages of its projected 7+ year mine life with tonnes of resources yet to be dug out and processed.
This is in addition to a number of exploration projects, including a current drill program in the Pearse Corridor, which are expected to increase the mine life further meaning there is likely to be a sustained revenue source for KBL over the coming years.
KBL’s revenues are enhanced further with all its ore being processed at its 100% owned state-of-the-art Mineral Hill Carbon-in-leach (CIL) processing plant, which has received $30M worth of upgrades over the past few years and is within 1km of its producing Pearse open cut mine.
At the same time, it should be noted that KBL is a speculative stock. It is still paying off debts and is in the process of raising capital to clean up its balance sheet. Investors should seek professional financial advice if considering an investment here.
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All in all, since the last time we caught up with this ~$6.5M capped company, it has fixed its access to infrastructure, resumed revenue generation, gained regulatory approvals for its Pearse North Mine and most recently hit a production milestone, producing and shipping its 60th gold bar since the start of the year from the State of the art Mineral Hill CIL circuit.
Updating you on Aussie gold producer…
