KINGSGATE CONSOLIDATED LIMITED (KCN)
Share Price Analysis and Chart

04/08/2025

1

Speculative Buy

$4.50

55.17%

Kingsgate Consolidated's Chatree mine produced 20.2koz in the June quarter, below Canaccord Genuity's expectation due to earlier ramp slippage, though alternative access has since been secured.

All-in sustaining costs were US$2,040/oz, slightly above the broker's forecast, impacted by higher mining costs but offset by inventory movements.

The plant operated strongly, according to the broker, above nameplate capacity, with implied free cash flow of $17m and closing cash plus bullion at $69m.

FY26 guidance is pending, but Canaccord forecasts 99koz at AISC of US$1,967/oz, supported by rising grades and reduced stockpile reliance.

The broker assigns no current value to the precious metals development Nueva Esperanza in Chile but sees potential upside if divested.

A Speculative rating and $4.50 target are maintained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 22.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 50.00 cents.