Namaldi good to get an opinion from somebody relatively new to the KGL Story. Good questions. Looking back the biggest loss is not Murchison but Andash and the $1B of free gold had KGL got the mine going. Don't think management could have done anything more in Krygyst and no other party has had any success up there during the period or since, in fact it continues to look worse. Murchison could have been managed better, no excuses. However the timing of the gold re-rate and bank driven change in available facility was again rather tough. Three strikes and KGL will be out so everything is now riding on Jervois. What differs from KGl is exactly the baggage it has and hence the discount to cash backing. Hard for any other penny dreadful to match this with a reasonable projecting expanding with each drill result. Looking back at directors experience prior to KGL shows a rather more positive light on performance. Hence I'm sticking with them for now.
KGL Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
