KL 2.68 times KDX SP
It seems that nothing can pull KDX out of its SP spiral when compares with KL.
About 6 months ago, it was reported on this site that when KL was double the KDX SP, the future SP leverage was in KDX's favour.
As I swapped over 50% of my KDX for KL in Q3 of 2016, I have been interested in the timing for a reversal of this share exchange.
I set my target at 2.5x KDX as a likely change over time. However, every thing that I hear about KL is exceptionally uplifting ...... Fosterville cashcost circa $300 + change .... dividend on Friday .... share buyback ....... Deb repayment. Therefore, I have considered that the KL may have to be 3 X KDX to make it worth a share swap.