Friday, November 25, 2016 11:03:26 AM
Clarus Securities recently completed a property tour of the Kainantu Gold Mine along with Macquarie, GMP, and Haywood. Following the tour, Nana Sangmuah, Gold Analyst, released his initial report on the company.
Highlights from the report are:
"We estimate a production growth rate of 200% for KNT from 2017 to 2019, ahead of growth rate of peers averaging 21%. Despite its compelling growth rate, KNT trades at a 0.3x P/NAV multiple, a ~60% discount to junior producer peers trading at an average of 0.8x NAV"
"The company plans to bring the low cost Kora deposit into the production profile that could bolster production from ~50 koz/year AuEq to ~150 koz/year AuEq by 2019, a 200% growth rate for an estimated initial capital cost of ~US$14 MM"
"With significant exploration upside, we see potential for ~150 koz production from the Kainantu project by 2019 supported by continued production from Irumafimpa, contingent upon exploration success"
"We see the probability to delineate ~5.0MM oz within a 5 km radius of the plant as very likely with 3.5MM oz of historic resources already delineated and a strong potential to add more ounces from untested zones as the 1 km drift to Kora progresses.”
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