andre, page-2

Hello thejasse128,

I think you have echoed the frustration in Andrei that we all share. I think though the problems is that Andrei believes he owns the Company and can do what he wants. One can relate to this as a thirty percent equity is pretty well a control holding.

If KOR were to retain all of its assets within the Company then Andrei would suffer the same pain as other shareholders one would have more confidence that he is working for the benefit of all shareholders. My concern though is that he might transfer the main assets out of KOR into other Companies. I do not know if this will happen but the tranfer of the Uranium assets into another company gives me cause for concern. What's next? Melrose? I do not know if this is his intention or, if it is, what the terms will be, but I've seen assets transferred out of companies before to the very considerable detriment of shareholders. With KOR being cash strapped I believe Andrei must be looking at all the alternatives.

I've spent quite a bit of time successfully running exploration projects in Russia and other countries within the Russian Federation and my experience is that there are some Russians who are as honest as the day is long whilst others manipulate things for their own ends. But that's not peculiar to Russia, some Australian Companies do that too. I know nothing about Andrei and I take him at face value. I bought into KOR because Andrei put his own money into shares in KOR. Like I said, if the proejcts are kept in KOR and not siphoned off, I would not to be too worried; but to be left wish a cashless shell that owns equity in a number of other exploration companies would worry me.

What we really need is for a lot of shareholders to fax KOR, attention of the Chairman, voicing their displeasure at the lack of information.

Obviously this is not investment advice.