Ann: Chatree Plant 2 Ramp Up and Second Gold Pour, page-24

I've got one thing to say to the chicken littles, goths, naysayers and posters who are clinically depressed...."enough announcements for ya"?

The old saying is that "the market can remain irrational longer than you can remain solvent", which is exactly what the institutions are playing at, acquiring shares via attrition when shareholders are forced to sell due to personal circumstances. We all know that the SP could double to $3 and it would still be a bargain. Did the institutional investors that invested $46m at $1.50 via the placement on next to no notice do so because they think the fair value is $2? Or $2.50? Try $5 plus like the rest of us. I read in one of the threads someone ridiculing the quartz lease as being any substantial compensation. Well to my mind the quartz lease is the key to how much above $5 Kingsgate is worth. Those who were at the AGM will recall comments from the board such as, "it's much bigger than it looks", and we know for certain that the grade of ore will be higher (having drilled right to the edge of it back in 2006/7(?).
We just need patience now. I have my fingers crossed that we will have an announcement of full settlement before the Thai election on 14 May, after which time Kingsgate can drill the quartz lease and promptly release drilling results. Fitzroy posted earlier today in the other thread regarding the quartz lease and he/she is spot on. Kingsgate knows the geology inside out and have been wanting the quartz lease for ages. Now that we have the quartz lease, it hasn't been drilled! Everything happens for a reason and it won't be oversight (Appendix 3G). Have one of the clinically depressed paint us a picture, as it is blue sky ahead, although you wouldn't know it from the SP.
The whole KCN team has done a stellar job, and it's hardly surprising when you have an impact player like our MD to unleash from the bench - think Jonah Lomu in his prime, and this was confirmed by the market - the share price promptly went down upon the announcement of Jamie as MD (this seems to happen with virtually all positive announcements from Kingsgate now that I think about it). Leases - secured, funding - secured, first gold - poured, second gold - by COB. I am loving the Friday announcements (17 March Approval to open Chatree, 24/3 first gold pour, 31/3 Ramp up plant 2 and second gold pour) a really positive to start the weekend for all shareholders. Keep up the awesome work.

I realise the consensus isn't there regarding the capital raise, however existing shareholders are significantly better placed now (ignoring the SP) having the institutional investors brought onto the register. This benefit might seem intangible, yet it provides certainty as to Kingsgate being a going concern from an accounting perspective and puts Kingsgate in charge and not going cap in hand from lender to loan shark to lender begging for finance. The company controls its own destiny.
As noted by another poster (Wary/Oldfolk/Fitzroy?), the clock is ticking on our 8 year tax holiday, so best make the most of it ASAP!

The additional cash and dilution of equity reduces the risk of a hostile takeover, either internally from shady types hiding behind custodians with questionable morals (or none whatsoever) or alternatively a big player. Why would you spend money on gold exploration, when you could buy the entirety of Kingsgate with proven resources for a song!