The issue with KOR is not the resource, but rather one man trying to accomplish everything on his own.
Essentially, the company is a "one man band" with Andrej acting as the CEO and company secretary, as well as being responsible for organising offtakes, planning mine logistics, selecting mining contractors, completing permitting (NOI), not to mention the periodic distractions of submitting quarterly reports, annual reports, raising funds to pay salaries and keep the lights on, preparing cleansing prospectuses etc.
A person can only multitask to a point until there are simply too many balls in the air to manage and they quickly become inefficiency and timelines get pushed back. It's no wonder the NOI is taking forever to complete.
The after hours release of the cleansing prospectus being delayed yet again (for the 5th time) is another example of the guy probably not having enough hours in the day to manage everything on his own.
The other issue with having one person accountable for everything is what happens when the person becomes sick? Or needs to take annual/personal leave etc. Is work simply put on halt until they're back in the office?
It feels like the company is more worried about saving pennies and keeping costs low, rather than spending money to hire some short term professional help to get the NOI completed and Winchester into production as soon as possible, IMO.
At the start of the year KOR had a goal of getting Winchester into production in the 2H of 2019. Well, we are now approaching mid October without any clarity on when the NOI will actually be submitted. Will it even be submitted this year???
Below is a reminder for Shareholders on what the company stated in their announcement released on the 22nd Of March 2019.
KOR Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
