news, page-13

The Burey distribution is still waiting on the results of the Burey due dilligence, which was scheduled for sometime this month. So if Burey decides to take up the lease areas then KAL has stated it will distribute the shares that will come to it as payment for the leases to KAL holders who were holding on a date that has escaped my memory but which was last December sometime I think (will have to check).

IMHO it's a magnanimous gesture by the company as it means KAL holders are given the opportunity to benefit from KAL's U prospects and also gain from KAL keeping its focus on the main game i.e. Norseman (and Jackpot) - a good announcement out of Norseman exploration is what will get the KAL ball rolling again and should see the sp heading towards the independent auditor's assessment of 18-35 cents so it's good to know that they are focused on that.

Sorry for all those that will miss any distribution from Burey because of the early record date but you pay your money and you take your chances in this game.

If Burey decides not to take the U prospects then imo KAL will leave them for another day - Norseman is the play now, as it should be with proven reserves just waiting for the right company to come along and exploit them. Hopefully KAL is just that company.

Good luck to all and DYOR.