Hi Dale
KML is in the middle of being restructured please refer to their ASX announcements. many shareholders are not happy with the method of restructurung as a script offer has been made for the company by opportunists that will heavily dilute the interest of all other shareholders.
Several Shareholders including myself feel to reduce cash burn and to enhance the extrinsic value of KMLs assets (including Mt Ruby) it would be better if KML was merged with HGO or a similar Queensland exploration company now.
THe advantage to HGO over other companies with KML is the synergies offered by having Mt Ruby tenaments combined under the one company
The real alternative is that KML will possibly go into administration within 2 months and the assets would soon be reduced to a pittance in $4000 an hour liquidator fees.
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Subject: KML
Date: Tue, 16 Dec 2008 16:02:04 +1100
From: [email protected]
To:
Your email to David Archer has been passed onto me as David is overseas at the moment. I'm sorry but I was a little unclear from your email as to what you are suggesting is it to merge both the KML and HGO interest in Mt ruby into one?
Kind Regards
Dale Ferguson
General Manager - Exploration & Operations
Hillgrove Resources Limited
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