Today is the very first trading day of Kenadyr Mining (KEN.V) after completing its RTO with Javelle Capital. Kenadyr’s flagship asset is the Borubai gold project in the Kyrgyz republic, which is right next to the producing TBL Mine, owned by the Chinese conglomerate Zijin Mining. According to Zijin, its TBL mine contained approximately 2.1 million ounces of gold in 2011, and Kenadyr hopes Zijin’s gold zone is extending onto its own property.
The company is currently trading at C$0.84, for a total market capitalization of approximately C$70M, with C$8.5M in cash. The cash position should allow the company to complete its first exploration program as a public company (Kenadyr already drilled a few holes in 2016, when it still was a privately-held entity).