RE:KNT 2nd Q Results/Conference Call CommentsTuesday...id,
A few of comments on your clearly insightful post:
Item 2 "Realized KNT gold price from 2nd q at $2246" I refer you to KNT's Interim Financial Statement June 30, 2924... see Note 19 "Dedivative Instruments" and in particular the open commodity contracts for the (large) quantity of
11,425 ounces of gold with settlement Term August 2024 and settlement date October 31, 2024.
Item 3 "EPS at +0.03 for 2nd q" This was a little more positive than I had anticipated, and was also rounded-up (legitimately for presentation norms) from actual
$0.0258 per basic share and $0.255 diluted, which were both rather close to being rounded down to +$0.02. I do not complain about this, just providing minor perspective.
Relating to element b) in your Item 3 "Assume approx. 20K more gold (would be) produced in 3rd q" .... You probably intended to write 20K more gold (would be)
Sold in 3rd Quarter, because the 21,661 ozs. of Gold and 24,347 ozs. Gold Equiv. produced in Q2, 2024 will not be exceeded by 20K ozs. in Q3, 2024.
Observation: I anticipate that KNT will sell more Gold in Q3, 2024 than they Produce in Q3, 2024, but how much of the
Gold 4,968 ozs. in inventory at the end of Q2, 2024 that will be sold in Q3, 2024? is a "wait and see question".
Also keep aware that we are dealing with a very highly shorted stock (example past 2 weeks) :
Short Traded % of Total KNT Traded Transactions 38.203 %
Source: 08/15/24 20240801-20240815_ShortSaleTradingSummaryReport IIROC( Investment Industry Regulatory Organization of Canada) Peace,
Good Decision-making to All,
ElJ