More accurate to say 'the market is always right except for when...

More accurate to say 'the market is always right except for when it's wrong'. The market is made up of people subject to prevailing bias and positive/negative feedback loops. Read some George Soros for a cogent debunking of the efficient market hypothesis from someone who has consistently profited from his belief that the market is very often way off. Remember sub-prime debt was AAA rated until it was recognised as junk.

Those who understand the big picture as regards Kibaran are all in or awaiting key milestones that are weeks/months away. It tries one's patience to watch the games played with our share price but the low liquidity makes it very easy to control. There's only so long KNL can maintain a market cap in the $30-$40 million range.

I'm of the view that details of financing will trigger the re-rate we're waiting for.