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Ann: Kimberley Mining TSX-V Listing Update, page-45

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noid222

965 Posts.

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10/05/18

18:15

Post #: 33018895
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Originally posted by Born2run ↑

If they do a proper job with the Toronto listing of AB, and all goes to plan, I value the SP at 6c. At which stage I am out.

I have no faith that they have the skills and knowledge to find anything below ground.

Hence, the AB deal (if done well) will leave them with a healthy cash balance. They then will have to use that wisely, to find something themselves. My gut feel is, they are unlikely to.

So, I expect a spike to around 6c after a successful AB deal, and following that.... a gradual decline in SP over time as they burn through cash. As reported before, their ratio of management fees vs. exploration fees are off the scale compared to other junior explorers. And their track record with exploration.... abysmal.

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I think it’s a big ‘if’ they get this AB deal done. A $30m IPO for an asset they paid $5m for a few years ago. An asset they’ve been unable to progress or raise the funds (no interest or success from Australia or China other than useless MOU) required to progress the project.

It’s a high risk bet. If it works out as per the plan I’ll be amazed. It all comes down to the team in Canada IMO, Matt & Co will be bystanders.

MCT Price at posting: 2.8¢ Sentiment: Hold Disclosure: Not Held
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Last 2.2¢		Change 0.000(0.00%)		Mkt cap ! $13.60M

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6	256344	2.2¢

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Price($)	Vol.	No.
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Price($)	Vol.	No.
0.023	50384	1
0.024	177146	2
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