Ann: Leonora Gold Project Update, page-35

In the industry , it's called a "clusterf#^k" !!!

Very bad day for Kin .

They obviously do not have a handle on what has to be done program or budget wise for the plant. The WBS for the schedule must have holes in it like swiss cheese . Veery disappointing . Sounding more and more like they may have shot the messenger and Don jumped ship so as not to have to carry the tin . No wonder there was discontent in the board room.

Particularly do not like the comment about a CR to cover their existing debt to Sprott . This is sounding very ominous.

There are certainly grounds one would think for them "misleading the market" to come out with this showstopper only a few weeks after

KIN's Interim Managing Director , Trevor Dixon said :

"Having bolstered our technical and leadership capability at a board level , the company is laying the foundations for a positive cash flow business and is on schedule to meet it's commissioning and production timeline."

They forgot to say "This has been achieved by :
- Removing the Technical Director
- Accepting the resignation of the Managing Director
- Apparently going to the market with a DFS that may not even stack up as a PFS (+/-30%)
- Poorly monitored progress and schedule to the point that there was a belief 3 weeks ago that the LGP was under budget and ahead of schedule.

Hate to say it but mentioned when this crap with TD was instigated several months ago that there was a real possibility that the plant construction could get deferred in favour of drill , drill , drill .

Now where is that ledge that Nowhere Man mentioned the other day. Emptied out the tea and looking for the scotch!

My opinion only, dyor.