Ann: Business Initiative, Placement and Director Appointment, page-34

i tips my hat to @AuCrusher's insightful comment on May 22, which pretty well nailed it for long suffering shareholders. Here it is again because it's worth repeating

AuCrusher:

"I've been a shareholder for nerly 3 years, waiting for a decent company strategy to be published. Finally it comes and is sensational. And whilst not to be taken as production guidance, its as close as we have gotten.24,000oz per year at an ASIC of $2400, Gold price at $3500, = $26mil free cashflow per year. Same as current market cap."

ain't that the truth of it. Pity KAU had to sell a substantial portion of itself before it could finally enunciate to owners in clear terms what TF it is doing.