It's fair criticism by Coalboy, it has already been a long wait. But for me the question is whether the next six months will see an accelerated increase in the resource. My bet is that it is going to be a productive period, way more so than anything KIN has managed before.
It's still a case of jam tomorrow but I'm hoping that the coming together of the gravity surveying, the soil anomalies, the understanding of the N-S shear zones and all of the experience of the previous rounds of drilling will deliver better results, faster.
Some of those targets in last week's release look pretty compelling, especially in the context of the Carosue Dam Corridor, where I have done some basic reading around the geology. Nothing is guaranteed, of course, but worst-case scenario is surely going to be a resource of 1.2-1.3m oz within a month or two, and hopefully 1.7m-plus by year end.
Another way of looking at this is that $12m for drilling should generate another 400k oz at a similar discovery cost to about $30 per ounce for the previous drilling under AM's watch.
I'd expect him to do better than that as well, as he keeps saying that the geo team's understanding of the ground has improved significantly.
In fact, I will probably be a bit disappointed if KIN isn't close to declaring a resource approaching 2 million oz by the end of this year, which is a major step up on today. Maybe that's too bullish. But by that point it will be more than time to make the call on production or sale, hopefully at a higher gold price and on a much higher resource base.
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2 | 51461 | 0.052 |
7 | 533293 | 0.051 |
9 | 1076846 | 0.050 |
Price($) | Vol. | No. |
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0.056 | 150000 | 1 |
0.057 | 457400 | 1 |
0.058 | 266504 | 5 |
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