The earnings call will take place on 8/13/2024.
The 2nd q gold price was nearly $300 higher than 1st q but only
19k AU eq oz was sold... so I expect eps to be anywhere from
-0.01 to +0.03 eps. It will be interesting to see if they keep AISC is below
$1500 w an inefficient 19k AU eq sold. Who knows?
if KNT meets their downward revision of 120k AU eq oz for whole year then
they will average 35k au eq oz for both remaining quarters..
This should result in a very positive eps for 3rd and 4th q... but not now.
The important thing now is for analysts to focus on detailed questions regarding
stage 3 and 4 development status.
1.) The stage 3, 290k oz schedule has changed from end 1st q to later in 2025.
What is the new stage 3 completion schedule? Note, 72k AU eq oz per quarter
will result once steady state ramp up is completed?.
2.) Revised stage 4, 470k oz 2026 schedule?
3.) What is the current debt/financing looking like? In 1st q, 2023, knt stated
stage 3 cap ex at $178M and stage 4 at $187M. They have been paying
on both through cash flow so where are we now? No update since 1/2023.
4.)What is the $120M financing plan for stage 3 and 4 debt. If 1st draw payback
does not have to begin until 4 years later, then cash flow by 2026 should easily
cover.... ask Lewins to explain his plan.
In short, analysts need to engage knt in more detailed discussion and timelines
than prior calls. A timeline on resource update wouldn't either.