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Ann: Drilling Permits Granted, page-66

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GoldBugBob

3,367 Posts.

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20/08/20

19:21

Post #: 46699296
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Originally posted by pustayo: ↑

To be honest I flogged it today across different parcels

Just I think they are too busy with 4 or 5 other listed entities to take this completely seriously. Don't get me wrong they will take it seriously if they hit its just I would have preferred to have seen it from the start. If I think back to every milestones they were all heavily delayed for some reason or another.

It kinda just feels to me it was all very rushed and not well thought out. Like permission not being sorted out prior to listing is a little baffling. Look I like Jonathon think he is a good guy, he sounded pretty deflated today though which is a good and bad thing imo.

I probably should have given them benefit of the doubt and just waited a bit longer but we are almost 9 months into the year and still no drilling. Not sure why permits were not being worked on from day dot, and if they were then I dont like that delay wherever its from, landholders, gov or whomever else.

Still like the model, think everyone will do well and still think they are sitting on a tonne of gols but I am happy to derisk some of my portfolio here and put some cash in the bank at this point. I can only use the past as my future indicator and if any minor macro event happens this could get further delayed and im happy to have cash.

all my opinions and my own reasons and thought process for selling

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Thanks and appreciate your thoughts @pustayo

I don't think anyone could have anticipated covid and the delays that has caused. I give them some leeway for this. Covid put the brakes on Australia around February.

Drilling will take a few weeks anyhow. So once started and derisked you have the chance to revisit it as an investment.

Hopefully you'll be back in a couple of weeks.

Last edited by GoldBugBob: 20/08/20

KAU Price at posting: 33.5¢ Sentiment: Buy Disclosure: Held
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