Unfortunately this update does not provide the market with any confidence at all. They continue to drill (expend $!), they fiddle on the edges with contracts and they state the project will commence when there is confidence it can be finished on time and budget. Some observations from me: 1. Most greenfields mines don't finish in time and budget. 2. Does KGL believe the WA / NT mining environment will be less heated in the 5 year term? Indications are that the copper, lithium, nickel boom is still in its early phases. 3. KGL makes no mention of the need to raise debt & equity which is still its highest hurdle.
Do your own research please.
KGL Price at posting:
13.3¢ Sentiment: Sell Disclosure: Not Held
