Ann: Exploration and Development Update, page-9

Helen's was flagged last year as potentially allowing a significant upgrade to the LGP resource, and it seems that will be the case. From where I sit the drilling funds seem to have been strategically spent. I would have thought at least a one year extension to the LOM, perhaps more will come from this. A 500 k oz reserve by the start of production seems possible. That deeper hole struck me as very competently done - if we are going to spend about $30k on a single hole we want it well aimed, if possible, and it looks as if the geological modelling was bang on. A 60 gram metre hit 100m below the well drilled area is a good outcome, imho.

Whether it moves the SP is another matter. I thought the capital raise did well to place most shares in the hands of existing large holders who doubled down, and a single large new investor, but there still seems to be a bit of arbitrage trading on good news around .13 / .135. The volume went up on the drilling results, rather than the price.

Also, Kin seems to have some trolls under the bridge who aren't going anywhere until the SP goes back over .25, but who do their bit to sabotage any good news. Anytime a new visitor puts a foot on the bridge, attracted by good news, trolls emerge with incoherent prattle about "the company", even though the executives responsible for the DFS have gone. One was out the door the second it became apparent the DFS would be scrutinised, bonus in hand, rather than waiting for new board appointments. The speed of that departure tells you almost all you need to know, but subsequent revelations by the new team about work required before the plant can be commenced confirm it. The remaining directors from that time are two votes out of five, and both invested heavily @ .25 same as the trolls. I am glad they are still on board - they did not have executive input in to the DFS.