By Otto Rock of Inca Kola News
[biiwii comment: glad he’s reasonably impressed; I bought KGC, one of those miners conspicuous and positively diverging the sector, a while back for its chart and perceived value]
I’m reasonably impressed. A couple of charts, starting with P+L matters and it’s the drop in costs that makes the difference to gross margin:
Here’s one of the balance sheet charts, showing how working capital is better than a year ago, little changed from 1q17overall but the proportion of liquid cash has improved. K could go out and buy something, even while finishing Tasiast.
BV/share is now a couple of tenths under U$3.50, which puts the price/book ratio at 1.18X. Room for improvement there.
This time last year Special K was a U$5+ stock. No reason why it can’t revisit that level.
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