Member Company Profile

Kingsgate

KCN:AU|Last Price: USD 0.24|Market Cap: USD 53.16 M

USD 0.11        USD 0.24


Gold Price: $1,500.25|Silver Price: $17.04|Platinum Price: $846.00|Palladium Price: $1,458.00|Gold:Silver: 88.0


Status: Developer|Primary Mineral: Gold|Primary Country of Operation: Chile


Last Updated: June 10, 2019

  Print Profile

IR Contact

Peter Hayman and Jamie Gibson
+61 (2) 8256-4800
[email protected]
www.kingsgate.com.au

Address

14 Martin Place, Suite 801
Sydney, NSW 2000
Australia

Cautionary Information

© Copyright 2019, Denver Gold Group & Kingsgate.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.

Kingsgate (KCN:ASX) has an impressive 15 year record of gold production at the Chatree Gold Mine in Thailand, with approximately 1.8 million ounces of gold production. The Company also owns the prospective Neuva Esperanza Gold-Silver Project in the Maricunga Belt of Northern Chile. Production is suspended at Chatree following the Thai Government's forced shutdown of the mine in Dec 2016, and reserves of around 1 million ounces remain. Kingsgate recently received a payout of US$55 million under a Political Risk Insurance Policy that it held when the Chatree Gold Mine was prematurely closed by the Thai Government. Kingsgate has another compensatory action underway for the mine closure via the Thailand - Australia Free Trade Agreement ("TAFTA"). The Political Risk Insurers have joined with Kingsgate to pursue this claim. The final arbitration hearings under TAFTA are scheduled for November this year. Given the recent insurance payout, Kingsgate is fully resourced to both pursue TAFTA and remain aspiration for other development opportunities. In addition, Kingsgate is seeking expressions of interest or joint venture opportunities for its Nueva Esperanza Chile Project, to move this project forward towards production. Mkt cap US$38m and zero debt.

Value Drivers
  • Recent US$55 million payout for a Political Risk Insurance Policy that was in place when the Chatree Gold Mine was prematurely closed.
  • Further compensatory action underway for the Chatree Gold Mine via TAFTA.
  • Owner of the prospective Nueva Esperanza Gold/Silver Project in Chile, and fully resourced to seek new development opportunites. 

Annual Production
Gold, oz per year
GEOs: No

Annual Proven & Probable Reserves
Gold, Moz per year
Mineral Authority: JORC , GEOs: No

All data is attributable unless otherwise stated in footnotes. Mineral resources are exclusive of reserves unless otherwise stated in footnotes.

Top Shareholders
  • Euroz Ltd
  • USAA Investment Management Company
  • Dimensional Fund Advisors LP
Management
Chairman: Ross Smyth-Kirk
CEO: Vacant
CFO: Ross Coyle
COO: Vacant
Consultant: Jamie Gibson
More Detail
Capital Structure
Common Shares Outstanding: 226,225,940
Float (%): 100.00
Fully Diluted Shares: 226,225,940

IR Contact

Peter Hayman and Jamie Gibson
+61 (2) 8256-4800
[email protected]
www.kingsgate.com.au

Address

14 Martin Place, Suite 801
Sydney, NSW 2000
Australia

Cautionary Information

© Copyright 2019, Denver Gold Group & Kingsgate.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.