Kingsgate (KCN) has plunged 14% after reporting a statutory net loss of $5 million in its half year results

Kingsgate (KCN) has plunged 14% after reporting a statutory net loss of $5 million in its half year results. KCN had been a stellar performer in the recent bounce in gold juniors. As of yesterday it had gained 94% over two months, in part due to anticipation of better results today. Production guidance has been bullish so far this year, and targets have been met. However, thanks to the suitably titled 'Challenger' mine, the group all-in sustaining costs are as high as $1139 /ounce. So, like many gold producers out there, margins are not what they once were. Presentation here: (VIEW LINK)


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