If you are a value buyer $1.20 is enough with a P/E of 18 or...

If you are a value buyer $1.20 is enough with a P/E of 18 or so.
Those who see a lift in production and profit over the next year
will no doubt see $1.20 as cheap.

KRM is a small narrow vein UG operation which is always different to
the larger open pit that investors are familiar with. But with a grade
of 12 g/t it conforms to the gold addage that grade is everything.

KRM decided two years ago to commence UG mining rather than
spend millions drilling out to JORC standards which can be very
difficult and expensive in a narrow vein mine.(JORC determines mine
life for investment purposes)

Institutional buyers prefer bigger producers like NCM and usually wait for 3 consecutive years of production results before buying-in. As you are probably aware, big institutional buyers move the SP along more than the dribs and drabs from retail investors.

As KRM approaches 3 years of production, increased mine life and
improved EPS we'll likely see the SP move along past $2 driven by the institutions. This happened to MML of which it has been said that KRM is a mini clone.

As usual, please do your own DD and consult a licensed advisor before investing.

With kind regards
Moorookamick