Have been following this one for sometime and are yet to commit to buying although many I know see a lot of potential. I have done some sums on this one and I see the following:
San ANton Project: Kings 64% of project (assuming merger approved) and approx 576 million shares will be issued.
Pre feasibility Net cashflow 182 million after tax and KMN share 64% = 116million undiscounted.
This is also based on .74 strip ratio which is questionable ?
There is also a strong chance that more shares will be issued in the future as I don't think 5 million is enough to commence project.
I am still not convinced.
KMN Price at posting:
10.3¢ Sentiment: None Disclosure: Not Held
