I am glad to see a revised reserve will be released in May,...

I am glad to see a revised reserve will be released in May, before the PFS. The bottom of the range of the production targets in the withdrawn West Australian article would need about 500 000 oz. We can rule out the top of the range I imagine (over 700 000 oz), given the resource. My wishlist has about 600 000 oz pencilled in with the life of mine unchanged.

Comparing the first PFS with the one due at the end of June will be cheese and chalk. Given the 10 million already spent on development, the work done on water, tailings, pit design, and metallurgy, and the fatal flaw studies, many aspects of this PFS will be nailed down more securely than in the original DFS. It is easy to forget, comparing figures, that a pretty compelling case has been made that the original DFS figures probably wouldn't have been achieved in practice.

A substantial increase in the reserve, based on conservative assumptions, should throw a spotlight on the low market cap, especially given the development work already in the bag, the possibility of reactivating the Sprott loan, and the relatively advanced PFS, evidenced by the expected DFS in a relatively short order. The reserve is much more important than the resource, imo.

Kin is funded to the release of the PFS, but not much after that. After the release of the revised reserve there might be an opportunity for Kin to place some shares at a better SP, bringing in enough to take us through to DFS. That is what I am hoping for.