what is kcn worth with the lease being granted, page-5

KCN hit $6.80 in April 2006 when the market thought the leases were going to be granted in a matter of weeks.

Gold then was about US$550.00.

KCN will be expanding to about 300,000 ounces of unhedged gold production per year and 1.5 million ounces of unhedged silver production per year.

KCN currently has only around 90 million shares on issue and over $40 million in cash and is debt free.

KCN is a very low cost producer. Just think about this and compare it with our local gold procers.

The quality of KCN's operations is so outstanding that KCN's cash costs were only US$404 in the March quarter despite having to treat very low grade ore averaging only 1.1g/t because KCN didn't have the new mining lease where grade will be approximately double.

The exploration upside for KCN is phenomenal. I believe KCN are very confident of finding at least one other Chatree like gold deposit.

With such a bullish outlook for gold and KCN having such an outstanding gold operation and such brilliant gold exploration upside, if KCN was even $15.00 within a week or two of the mining leases being granted, today I am saying even that would not tempt me to sell.