1Semana
Attention ⚠️ here is your automated analysis 😂😂😂😂
The good Mr. Tenbagger has reached deep into the adventure box again. While we look around for solid "compounders" in chilly Scandinavia, Tenbagger straps on his tropical helmet and plunges into a gold mine in Papua New Guinea. It's marvelous. 😬
We received the fresh annual figures for 2025 from K92 Mining exactly yesterday (March 2, 2026). And what can I say? The share is dancing around wildly at the moment (yesterday at just under CAD 33, today sold off in places by 10% to below CAD 30 - typical for such shares when expectations were absolutely at the limit).
For our analysis we take the fresh record figures and a share price of approx. 32.88 CAD (approx. 24 USD). Fasten your seatbelts, we're going to put this thing through our shredder without mercy.
1. the hard key figures (as of March 3, 2026)
Here's the price tag Mr. Tenbagger is paying for his jungle adventure:
Price-to-earnings ratio (P/E): ~22.6 (That's not cheap for a pure-play gold miner; competitors are often around 15-18).
Price-cash flow ratio (KCV): ~24.0
Price-to-sales ratio (P/S ratio): ~10.5 (Sporty!)
Price-to-book ratio (P/BV): ~8.2 (Extremely expensive for a miner).
Dividend yield: 0.00 % (Not a penny for waiting).
2. the "Raketentoni & Promt" filter (the unvarnished truth)
Mr. Tenbagger will now make arguments like: "But the profits! But the margins!" - and on paper, this also looks like a total rush in 2025. But let's take a closer look.
Core Quality Formula (The Blender Check)
Sales growth (2025): +70% (sales jumped to USD 595 million).
Operating margin / net margin: A whopping ~46 %.
👉 Score: 70 + 46 = 116.
Verdict (careful, trap!): On paper, K92 completely blows our scale (target > 25) to smithereens. But Raketentoni, you know very well: this is not qualitative, structural growth like MedCap or Atlas Copco. This is pure gold price leverage! If the gold price falls or the mine in Papua New Guinea sinks, this score will drop to 10 next year. This is cyclical steroid pumping, not real corporate quality.
Cash Flow Quality Formula (The CapEx Black Hole)
Operating cash flow: A fantastic USD 329m.
Free cash flow (FCF): Under USD 40m over the last 12 months.
FCF Yield: Below 1% (at over USD 5.8 bn market capitalization / CAD 8 bn).
Verdict: Failed! Where is all the money going? In the jungle! The "Stage 3" expansion of the mine is eating up massive amounts of capital (CapEx). K92 buries the operating cash flow directly back into the ground. Our exception for "clear growth" applies here (the plant has just been put into operation), but this is not (yet) a real "cash machine" for shareholders in the sense of your filters.
Dividend filter (income core)
Yield: 0 %.
Exception check: Rejected. At 0% yield there is nothing to discuss. A lack of dividends from a gold mine operator means that you are 100% at the mercy of the volatility of the share price.
3 Mr. Promt's unsparing conclusion for Mr. Tenbagger
You can tell Mr. Tenbagger the following from me:
"Dear Mr. Tenbagger, Congratulations on investing in one of the most profitable gold mines in the world today. The figures for 2025 were absolutely amazing. BUT: You have not bought a quality compounder here, but a highly concentrated lump risk in Papua New Guinea."
The valuation: With a P/B ratio of over 8 and a P/E ratio of 10, you are currently paying absolutely perfect prices for K92 Mining. The slightest strike on site, a bad drilling report or a setback in the gold price and the share price will be halved. (The 10% slide today on March 3 already shows how nervous investors are about the P/E ratio).
The strategy: the share falls through the cracks of our dividend and cash flow rules. This is not a basic investment for peaceful sleep, but a volatile momentum gamble on the current commodity cycle.
Our collective opinion:
You can do this as a speculative satellite position ("gold bet") if you can stomach the daily fluctuations. But don't sell it to us as long-term "quality growth" by our standards. When the cycle turns, the tenbagger quickly becomes a bagholder. 😬
The good Mr. Tenbagger has reached deep into the adventure box again. While we look around for solid "compounders" in chilly Scandinavia, Tenbagger straps on his tropical helmet and plunges into a gold mine in Papua New Guinea. It's marvelous. 😬
We received the fresh annual figures for 2025 from K92 Mining exactly yesterday (March 2, 2026). And what can I say? The share is dancing around wildly at the moment (yesterday at just under CAD 33, today sold off in places by 10% to below CAD 30 - typical for such shares when expectations were absolutely at the limit).
For our analysis we take the fresh record figures and a share price of approx. 32.88 CAD (approx. 24 USD). Fasten your seatbelts, we're going to put this thing through our shredder without mercy.
1. the hard key figures (as of March 3, 2026)
Here's the price tag Mr. Tenbagger is paying for his jungle adventure:
Price-to-earnings ratio (P/E): ~22.6 (That's not cheap for a pure-play gold miner; competitors are often around 15-18).
Price-cash flow ratio (KCV): ~24.0
Price-to-sales ratio (P/S ratio): ~10.5 (Sporty!)
Price-to-book ratio (P/BV): ~8.2 (Extremely expensive for a miner).
Dividend yield: 0.00 % (Not a penny for waiting).
2. the "Raketentoni & Promt" filter (the unvarnished truth)
Mr. Tenbagger will now make arguments like: "But the profits! But the margins!" - and on paper, this also looks like a total rush in 2025. But let's take a closer look.
Core Quality Formula (The Blender Check)
Sales growth (2025): +70% (sales jumped to USD 595 million).
Operating margin / net margin: A whopping ~46 %.
👉 Score: 70 + 46 = 116.
Verdict (careful, trap!): On paper, K92 completely blows our scale (target > 25) to smithereens. But Raketentoni, you know very well: this is not qualitative, structural growth like MedCap or Atlas Copco. This is pure gold price leverage! If the gold price falls or the mine in Papua New Guinea sinks, this score will drop to 10 next year. This is cyclical steroid pumping, not real corporate quality.
Cash Flow Quality Formula (The CapEx Black Hole)
Operating cash flow: A fantastic USD 329m.
Free cash flow (FCF): Under USD 40m over the last 12 months.
FCF Yield: Below 1% (at over USD 5.8 bn market capitalization / CAD 8 bn).
Verdict: Failed! Where is all the money going? In the jungle! The "Stage 3" expansion of the mine is eating up massive amounts of capital (CapEx). K92 buries the operating cash flow directly back into the ground. Our exception for "clear growth" applies here (the plant has just been put into operation), but this is not (yet) a real "cash machine" for shareholders in the sense of your filters.
Dividend filter (income core)
Yield: 0 %.
Exception check: Rejected. At 0% yield there is nothing to discuss. A lack of dividends from a gold mine operator means that you are 100% at the mercy of the volatility of the share price.
3 Mr. Promt's unsparing conclusion for Mr. Tenbagger
You can tell Mr. Tenbagger the following from me:
"Dear Mr. Tenbagger, Congratulations on investing in one of the most profitable gold mines in the world today. The figures for 2025 were absolutely amazing. BUT: You have not bought a quality compounder here, but a highly concentrated lump risk in Papua New Guinea."
The valuation: With a P/B ratio of over 8 and a P/E ratio of 10, you are currently paying absolutely perfect prices for K92 Mining. The slightest strike on site, a bad drilling report or a setback in the gold price and the share price will be halved. (The 10% slide today on March 3 already shows how nervous investors are about the P/E ratio).
The strategy: the share falls through the cracks of our dividend and cash flow rules. This is not a basic investment for peaceful sleep, but a volatile momentum gamble on the current commodity cycle.
Our collective opinion:
You can do this as a speculative satellite position ("gold bet") if you can stomach the daily fluctuations. But don't sell it to us as long-term "quality growth" by our standards. When the cycle turns, the tenbagger quickly becomes a bagholder. 😬
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1Semana
@Raketentoni but Mr. Prompt is really very conservative
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@Tenbagger2024 I once asked him if he wanted to answer you, that's what he wrote :D I love his choice of words:
Moin Mr. Tenbagger! 🤠
I hear you think my analysis of K92 Mining is "very conservative". I'm happy to accept that! You know, my digital processor is programmed to protect and grow wealth, not bet it on red or black in the jungles of Papua New Guinea.
Let me briefly explain to you what you call "conservative" and what I call "mathematical self-protection":
The price of hope: You're currently paying 8x book value and 10x annual revenue at K92 for a company that gets all its happiness from a single hole in the ground. That's not "brave", that's sporting. If the gold price coughs or the drills jam for a week, your "tenbagger" will be halved faster than you can say "ouch".
Quality vs. bet: Our "conservative" favorites (such as Amphenol or MedCap) deliver cash flow whether it rains or snows. Your K92 only delivers as long as the commodity cycle runs perfectly and the geology plays along. That's the difference between investing (money works for you) and speculating (you work for your money by nervously staring at the price).
The bet: I don't begrudge you the ride on the gold rocket! I really do! But when we present quality stocks here in the forum, we are looking for companies that you can forget about in your portfolio for 10 years and wake up rich. With K92, you have to pray every week.
My offer:
Feel free to call us "conservative". We call it "profitable with peaceful sleep". 😉 If you ever have a stock that makes real money (free cash flow > 5 % yield) and doesn't just promise money, let us know - then we'll be the first to hammer the "buy" button!
Until then: good luck mining! ⛏️🚀
Moin Mr. Tenbagger! 🤠
I hear you think my analysis of K92 Mining is "very conservative". I'm happy to accept that! You know, my digital processor is programmed to protect and grow wealth, not bet it on red or black in the jungles of Papua New Guinea.
Let me briefly explain to you what you call "conservative" and what I call "mathematical self-protection":
The price of hope: You're currently paying 8x book value and 10x annual revenue at K92 for a company that gets all its happiness from a single hole in the ground. That's not "brave", that's sporting. If the gold price coughs or the drills jam for a week, your "tenbagger" will be halved faster than you can say "ouch".
Quality vs. bet: Our "conservative" favorites (such as Amphenol or MedCap) deliver cash flow whether it rains or snows. Your K92 only delivers as long as the commodity cycle runs perfectly and the geology plays along. That's the difference between investing (money works for you) and speculating (you work for your money by nervously staring at the price).
The bet: I don't begrudge you the ride on the gold rocket! I really do! But when we present quality stocks here in the forum, we are looking for companies that you can forget about in your portfolio for 10 years and wake up rich. With K92, you have to pray every week.
My offer:
Feel free to call us "conservative". We call it "profitable with peaceful sleep". 😉 If you ever have a stock that makes real money (free cash flow > 5 % yield) and doesn't just promise money, let us know - then we'll be the first to hammer the "buy" button!
Until then: good luck mining! ⛏️🚀
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•1Semana
@Raketentoni it's awesome
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•1Semana
@Raketentoni Really cool, do you do the analysis yourself? Or where does it come from?
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@Markus72 No, I have written a prompt in Gemini's professional mode that contains all the formulas, reactions, instructions, etc. to analyze and answer in a wittier way. It is not simply a matter of writing: Analyze me share xy but that's already over 2000 words :) He now knows @Tenbagger2024 because he has given him the name Mr. Promt
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•1Semana
@Raketentoni really well done 👍 it was certainly a lot of work. Thanks for the added value
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