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Kopy Goldfields (KOPY)

Business description

Kopy Goldfields is a gold exploration company focused on the development of its nine licences in Russia. Together these cover 486 sq km and have C1, C2 and P1 reserves/resources of 2.0Moz. The company has JORC resources of 117koz.

Share price chart

Share chart

Stock data

Market cap.SEK62m
Last closeSEK3.80
High / Low (52 weeks)SEK20.8 / SEK3.7
Stock market listingNASDAQ OMX First North
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(22.18)(32.47)(79.56)
Relative *(17.77)(25.66)(75.4)

* % Relative to local index

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Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (fd) (öre) P/E (x) P/CF (x)
2010A 0.4 (9.8) (13.2) (284.7) N/A N/A
2011A 3.2 (19.1) (94.2) (1265.3) N/A N/A
2012E N/A N/A N/A N/A N/A N/A
2013E N/A N/A N/A N/A N/A N/A

Last updated on 19/04/2012

Latest research

GKZ to JORC

Update | Mining | 06/12/2011

Positive exploration data

Update | Mining | 21/02/2011

New licence acquisition

Update | Mining | 26/01/2011

Russian gold explorer

Outlook | Mining | 21/10/2010

Investment summary

Kopy Goldfields has recently acquired two prospective exploration properties, increasing its current exploration area from 255km sq to 486km sq. The properties border known gold deposits and are within the Lena Goldfields Bodaibo-region in Russia. The Purpolskaya license borders the Polyus Gold owned gold-ore deposit Chertovo Koryto containing JORC-compliant measured and indicated resources of 3Moz at 1.84g/t. The Verkhnyaya Orlovka license borders tenements owned by Severstal and Stargold Mines Karalon deposit. Kopy management believes these tenements show strong synergy with its current portfolio and its long-term ambition of developing 5Moz to support long-term gold production. We are reviewing our forecasts.

Last updated on 23/04/2012

Industry outlook

In its year-end results Kopy reported a net loss of SEK92m and earnings per share of SEK-12.65. Cash stood at SEK20m at the end of the period.

Last updated on 23/04/2012

Key management

Kjell Carlsson, Chairman
Mikhail Damrin , CEO

Company address

Engelbrektsgatan 9-11
114 32 Stockholm
Sweden
View website



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