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Message: Keegan Resource analyst coverage on maybach

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Keegan Resource analyst coverage on maybach

posted on Oct 09, 08 09:45AM

Keegan Resources Inc. (Keegan) is an exploration-stage company. Its principal business activity is the sourcing and exploration of resource properties. The Company has interest in resource properties located in the Republic of Ghana.


The Company entered into an option agreement on May 3, 2006, with Sammetro Co. Ltd. (Sammetro) to purchase a 100% interest in the Esaase gold property in southwest Ghana. The Company entered into an option agreement with GTE Ventures Limited (GTE), whereby the Company may acquire 100% of the Asumura Reconnaissance Concession (Asumura property) located in the Republic of Ghana, West Africa.


On April 1, 2008, Keegan acquired the Mt. Olives reconnaissance license, which brought the total land package of the combined Asumura property to over 900 square kilometers.

6 Months Chart:

<!--[if !vml]-->KGN CHART<!--[endif]-->

Financials (In millions of USD)

Income Statement

Quarterly
(Jun '08)

Annual
(2008)

Annual
(2007)

Total Revenue

0.00

0.00

0.00

Gross Profit

-

-

-

Operating Income

-1.03

-4.32

-4.38

Net Income

-1.03

-14.55

-9.6

Balance Sheet

Total Current Assets

13.07

15.44

14.26

Total Assets

36.08

34.67

21.49

Total Current Liabilities

0.30

0.38

0.35

Total Liabilities

0.30

0.38

0.35

Total Equity

35.77

34.29

21.14

Cash Flow

Net Income/Starting Line

-1.03

-4.32

-4.38

Cash from Operating Activities

-1.03

-2.38

-1.76

Cash from Investing Activities

-8.66

-11.49

-5.79

Cash from Financing Activities

2.17

14.95

20.87

Net Change in Cash

-7.53

1.08

13.32

Key Statistics & Ratios

Quarterly

(Jun '08)

Annual

(2008)

Annual

(TTM)

Net Profit Margin

-

-

-

Operating Margin

-

-

-

EBITD Margin

-

-

-

Return on Average Assets

-11.73%

-15.37%

-

Return on Average Equity

-11.85%

-52.50%

-

News Room

Click Here to visit The Company’s Press Room for most Recent Corporate Development.


Corporate Analysis:


The company engages in the exploration and development of gold mineral resource properties.


Analyst Opinion:


We would be buyers of the stock given a solid cash flow position and the high probability for continued strength in gold as the Federal Reserve lowers rates at month end.


Rating:
BUY

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