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11/08/16

21:23

Post #: 18499221
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Originally posted by fotiosh1 ↑

I get the anger and i've sent my missive to management (which I'm sure they wont read).

But, to raise a counter point, though...look at what's ahead: raise finance and manage lenders, construct a mine (in Morocco!), start production, market product, run a mine efficiently, and make shareholder's profits...

I ask myself: do I trust the current crew to get this done? My big concern with the current management has been their ability to execute (and their ability to over-pay themselves).

I have bad memories of a name I once held that took a silver mine from exploration to production - and went literally broke within 6 months of starting production because management had NFI...

I might be on my own here, but I'm getting comfortable in the view that phase 2 in this can be handled better by some 'grown ups' who have done this before and who have access and capacity to fund.

Also, consolidation in the micro-cap mining sector has to happen...there are too many companies spending too much money and duplicating too much management infrastructure.

As I said on another post, I was involved with another name that PALA took an interest in. Look, their Private Equity, and PE is entirely self-interested. That said, I wouldn't put it so highly as to say that their interest is to tip KAS and its assets into a company destined for bankruptcy so they can pick over the carcass. But, yes, the 12% interest on the $1m loan is b/s...

For the moment, I'm watching

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the 1 M usd loan is clearly to pay the notice period of the management
i agree with you, this management is not able to do anything else than road show and fancy pwt presentations.
i m just so pissed off nobody stronger than those Asian Mineral could stept in.

KAS Price at posting: 3.3¢ Sentiment: Hold Disclosure: Held
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My Vote, page-6

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