Kaiser Reef looks to have reinvented itself as a gold miner and producer and it relisted on the ASX today. It comes after the completion of the acquisition of Centennial Mining Limited’s operating gold mine and processing plant in Victoria. Kaiser has listed on the ASX as a gold mining stock with no debt and a good cash position. The capital raise was oversubscribed and delivered $7.5 million in proceeds. The stock surged over 18% and it trades at 48.5 cents.
Despite Kaiser becoming a gold producer, they are expected to continue their exploration activities in New South Wales and also begin new exploration programs in Victoria to try and expand the asset it acquired from Centennial Mining. In addition to this, Kaiser also has 100% interest in A1 Gold mine, Maldon gold processing plant, and Maldon Gold Exploration Project. While there is still a long way to go to bring production back to full capacity at a newly acquired plant, the firm remains confident with its current workforce, infrastructure and rich ore bodies.
Gold stocks have been an industry that Australian love to be in. In addition to Kaiser Reef’s successful listing, there are a lot more top gold stock winners of 2020. Gold stocks are also not the only way to gain exposure to the commodity and investors to consider all the other ways of how to invest in gold to find the best suit for their portfolios.
Looking for Income Stocks?
Income stocks are potentially one of the hardest to pick as there are a lot of factors that need to be considered – from industry tailwinds to financial health of the individual stocks, and a lot of little things in between them. Several ASX listed stocks have also cut dividends in light of the challenges posed by the pandemic. Shares in Value research team have picked their top 3 ASX income stocks to buy and it can be downloaded for free!
