KMN used to be tightly held by long term believers. During the...

KMN used to be tightly held by long term believers. During the Opes Prime saga, about 20m shares were seized by ANZ from one shareholder, sold to a sophisticated investor and eventually dumped into the market.
Coupled with the GFC, it just drove the price to the ground.
After the initial selling from shell shocked shareholders, most of us are holding it for the longer term, knowing it is worth more than the current price.
I have about 20 friends investing in this shares and the average holding is 500k of shares.
The top 20 shareholders own close to 52% of all the issued shares.
The instos haven't started buying yet. 720k of shares changed hand today and look what it did to the price.
I don't like to ramp up the story to push up the price.
I am a long term investor and it is the fundamentals that will lift up the price.
Goldcorp has just acquired an explorer, Canplats, in Mexico for C$238m.
Cost of building the plant is estimated at US$133.8m.
Althu their gold equiv. production is expected to be about 50% more than KMN, I am not sure of their production cost.
Not many mines are like KMN mine---digging a hill rather than digging a hole. Costs are lower and strip ratio is about one sixth of the norm.
Wonder if anyone is sniffing around Kings.