Ann: Company Interview - KGL Strong Cash To Fund , page-16

re: Ann: Company Interview - KGL Strong Cash ... Hi Nathan,
I have been wondering what you base your information on. The last drilling campaign at Jervois took roughly six weeks when the first set of results were released, so I would be expecting an update next week, not December. Also with two drill rigs on site drilling 20,000m, I can't see how you come up with 12 months of drilling. If you read the announcement attached to this thread Simon has indicated that their will be regular updates.

With regards to "cash backing" I think you mean reserves. The drilling Campaign is going to cost 4 to 5 million so they will still have 5 million + in the bank. In addition to cash reserves -extract from the interview on the 9th of Sept. When the sale of Murchinson goes ahead it will give them an additional 10 million + in the bank to progress Jervois.

Company Interview question:
What plans do you have for the Murchison Gold Project in the future?
Managing Director, Simon Milroy
We intend to divest the asset and any cash proceeds will be applied to fund Jervois. We have had strong interest from a number of parties regarding the sale of the Murchison gold project.

With only 140 million shares on issue and +ve drill results this could run quite hard. Throw into the mix the sale of Murchison I believe KGL has excellent upside potential.