K92 Mining Inc. T.KNT

What's wrong with K92 mining?

[Retiredgeo]

To the best of my knowledge ABSOLUTELY NOTHING!  Everything is hunky dory at the mine site.  A good preliminary Q3 report should be released in early October.

KNT the stock is another matter!  Today, gold and the gold miners got hammered, all part and parcel of the slow, meandering correction that is going through the global market place.

How low can K92 go?  The technical people will tell you that the old resistance level is $4/share.  During the March correction KNT got cut in half, all be it briefly.  History can repeat itself, we are already a third of the way there!  

When will KNT bottom out?  When the broader markets bottom out.  I will guess November, after the US election.

Will KNT recover to it's old highs?  After the March correction KNT's share price fully recovered in 3 weeks!  Extrapolating to November - EASY MONEY!  It is noteworthy that GDXJ picked up it's position early in the March rebound and scooped up 10 million shares between $2 and $3 in one day!  

Some of us are in a cash position and are waiting for the right time to buy back in.  I hope this blog was helpful.

[goldstd69]

i have to disagree with your points...seems to me that this oversold position in K92 has pretty much discounted most of what you are saying....I think the news of K92 since March has improved greatly...the market is waiting for news news news...it has been three weeks and no news...too much to like here for me to sell...I have been buying at these levels....I do think gold may work lower but just

[newfie36]

I agree with you that with news we can stop this decline and give the stock price some legs before we get an overdue bounce! John are you listening????

[Retiredgeo]

We are in a market correction.  Most of the world's markets are nearing the official 10% level.  Most of the fundamentals are ominous (second wave etc).  Market corrections are bad news for precious metals and precious metals miners.  As a rule of thumb you sell your Gold and Gold stocks before the correction and buy them back after the correction.  I don't see KNT

[goldstd69]

your points are well taken retiredgeo....just have to think our K92 cant go much lower but without news we seem to drift sideways to lower....guess we have to grab some bargains when we get them...

[invest234]

so you are saying the great improvement in fundamentals of knt don't matter, only your personal opinion of market timing matters. what if somebody has a different opinion of market timing than yours? everybody's different opinion of market timing can't all be right.

[Retiredgeo]

Stockhouse is all about the sharing of information and opinions. I sold my entire KNT position in late August at $7/share at the first sign of an impending market correction.  My KNT profits are nice and safe in my trading account.  I am staying out of K92 for the duration of the global market correction because such things are bad news for Gold and Gold miners (March comes to mind

[invest234]

for example, here is a different market timing narrative. the $1850 support level was just tested and held, now gold is going back up. the drop was related to end of month option expiry where they always try to push the price down. option expiry almost over and gold can rebound. this is nothing like march. the fed has infinite QE. any sign of markets dropping, the fed can pound the print button to

[perky416]

Out of curiosity...what were the signs of the impending correction in late august?

[invest234]

this is not march. march was liquidity crisis before 3+ trillion dollar money printing. now it is after 3+ trillion dollar money printing with infinite QE, updated 5 million oz gold, after expanded pea with well over billion dollar npv and $400 aisc, more drill results expanding veins, judd, drilling to test vein extending beyond mining lease, increasing production and cashflow at higher gold