Keegan Resources Inc NYSEKGN is a Canadian natural resources company which purchases and explores minerals in West Ghana. In particular, the company mines gold and other precious mineral resources. All of the company's properties are still in the development stage, but all contain known resources. The company expects to continue to under go explorations of its properties in order to achieve a better estimates of the size of the reserves.
Because the company is still in the exploration and development stage, it is pre revenue. However, the company did report a net loss of $CDN 18M.
Because the company is still in the exploration phase, it is not clear the volume of mineral resources it own. Furthermore, it is not clear what the cost of extraction will be. As a result, the future profits of the company are based on high future prices of minerals. If prices do not remain high, the cost of exploration and extraction may not be worth the sales generated.
As a mineral exploration company, Keegan competes against a number of firms. Some of the largest of these firms are: