re: ** bring it on 50c , is that all? 1 million ou
kcn would want to be getting a lot more than 1m oz of gold, if they get control of and. sure chatree, had reserves of 1m oz when the mine was developed. however, this property in south america, has been around for some time, and they still have to come up with a jorc resource. to my way of thinking, there is too much dilution of the current shareholders position, to aquire 1m oz, do not forget, but money needs to be expended, to develop a mine. from the surface, it would make more sense to spend the money in thailand. of course, if there ends up being several million oz, on the and tenements, then the bid is pretty good.
in thailand, reseves/ resources are growing at the rate of about 1m oz per annum - and at a very low discovery cost- so why bother issuing 20m shares, to get another 1m oz
in all fairness, if i was an AND shareholder, i would be jumping at the bit, to take adbantage of the bid.
the market, has punnished kcn for the bid, and obviously think that it is paying too much
hopefully kcn know more, than what we do
AND Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
