gold jumps - kcn down 5%, page-29

Its only a matter of time before Challenger gets shutdown. The announcement could come any day.

The last quarters cash costs were $1,278 at Challenger so the sooner its closed the better. KCN should never have bought Challenger. The last production announcement in June telling us how good things were at Chatree was notable in not a word was mentioned about Challenger. If Challenger was also doing well they would have also mentioned this in the announcement so you can assume things haven't improved at Challenger and it continues to run at a loss.

Bowdens was also a disaster. They paid top dollar for a dud Silver investment that will never be developed unless Silver goes into another bubble at $50+ and stays there! The last time between bubbles for Silver was 30 years (1980-2010) so maybe we have a 30 years wait at Bowdens.