Kingsgate Jumps Most in 20 Years as Thailand Ends Suspension

By David Stringer

 

- Chatree mine was closed in December after government ruling

- Chairman warns producer may lack funds to restart gold mine

 

Kingsgate Consolidated Ltd., the Australian producer that shuttered Thailand’s biggest gold mine following a licensing dispute, advanced the most in almost 20 years after the nation’s government said a suspension had been lifted. 

 

The miner, which in December closed the Chatree operation about 280 kilometers (174 miles) north of Bangkok, jumped as much as 55 percent, the most since October 1997, and was 36 percent higher at 30 Australian cents at 12:57 p.m. in Sydney trading. Kingsgate’s market valuation has tumbled to about A$68 million ($54 million) from A$1.1 billion at the end of 2010.

 

Sydney-based Kingsgate estimates a potential restart of the operation would cost more than $50 million, Executive Chairman Ross Smyth-Kirk said in a phone interview. 

 

Full story: https://www.bloomberg.com/news/articles/2017-08-18/kingsgate-jumps-most-in-20-years-as-thailand-lifts-suspension

 

-- Bloomberg 2017-08-18

Politics and money 

Jot this down as another junta failure or Kingsgate have deep pockets. Citizen concerns brushed aside. 

Time to buy in !!!

Bad NGOs will be back in business too. Works for everyone.

8 hours ago, 4MyEgo said:

Time to buy in !!!

Buy on rumour, sell on news.

8 hours ago, 4MyEgo said:

Time to buy in !!!

Glad to hear that gold-digging is still going strong in Thailand. 

12 hours ago, Eric Loh said:

Jot this down as another junta failure or Kingsgate have deep pockets. Citizen concerns brushed aside. 

You don't believe the scientists reports?