General discussion, page-4190

I have given up, for now, forming a view that would begin to resemble a true picture of Kingsgate, thanks to an inept management team. My perspective is clouded by a dense fog because of a lack of transparency.

The ultimate arbiter of management though is share price performance, especially in a year of major transformation. We are fast approaching the first anniversary of the CR, prior to which the share price last rose above the $2.00 mark compared with $1.14 yesterday.

With the brilliance of hindsight, I can see clearly the glaring mistakes made by me in assessing the company and its share price. Unfortunately, I was spot on about management's incompetency on the financing front. However, there were other important aspects that I failed abysmally to assess fully.

I badly underestimated how wide the management credibility gap, the discount that the market values the shares at because it does not fully believe what management says, would become. I also failed to grasp the likely high probability, overall, that management would be so incompetent. Not even providing adequate guidance on the mining operational side at this critical juncture.

No surprise that the market's dim view of management has become a loadstone weighing down the share price. Not even a record gold price and the elusive day approaching ever close when proper mining resumes can compensate for management's shortcomings, judged by the poor rating of the shares.

The share price is likely to be handicapped well into the future, if the current management team remains in place, no matter what unfolds over the next critical few months in the company's history. I sincerely hope it is what blindly bullish posters expect.