sentiment is fickle but powerful

The sentiment that drove KIM down over the past few weeks seems to be behind us. It's incredible what a couple of set backs and delays can do to some investors comfort zone, particularly when the SP is rapidly falling. I have been in for a long time with the intention of holding long term. This dip has just been another part of the ride, albeit I'm not that keen on such roller coaster extremes. But the basics remain the same. This is a solid company with proven resources and a lot more to come. Two years ago I calculated KIM had the potential to pay 15c/share in dividends within 3 years. This has been set back a bit but it will happen. There will be an announcement today updating us on KIM's position so hopefully we will be able to review the potential/value/timing of dividends.

Back to negative sentiment. It has even got to me, a long term believer in KDC, and many other holders as well it seems, as indictaed in the GM of 9 July. A whopping 40m voted against giving their newly appointed Exec Director 3 million options as an 'incentive'. 65 million voted for the proposal, but take away the remaining Directors votes and it shows a close finish and a distinct change of holders attitudes.
KIM has always been 'generous' in its deals/offers to directors and holders and have usually been passed with little resistance, because everything was rosey with a buoyant SP. So it is interesting to note the change when the SP is falling away.

This dip has provided me the opportunity to increase my stake by 50% and I'm looking forward to a steady return to $1.50+.

Re the rumour. Yes the Board was on site last week. Nothing dramatic though, just another Board Meeting.

Look out for todays announcement.