Ann: Completes RC Drilling Campaign at Kookynie Gold Project, page-29

The company is pretty much at shell value now.
Ridiculous, but understandable to a degree, given that KML is still sidelined for now and that they need to raise funds (though they still have KML as a catalyst for late 2019 on the investor presentation).

If upcoming gold results (maybe next week) are good and released prior to the closing date, I can't see why we wouldn't be able to easily raise enough to cover the next lot of drilling (which would kick off pretty quickly I'd imagine). Jason and the team are excited about the area and it's never a bad thing to be scratching around historical mines that have had some pretty decent historical hits.
Plus they know the area/s very well.

The fact that they're talking about potentially looking towards a MRE next year is a vote of confidence IMO.

With an update on the Paterson in the near future and plenty of work planned for our ST prospect/s ..... PLUS the possibility of KML eventually realising some value for MCT with their massive AB zinc project...

It's a pretty good entry price at these levels and management are wasting no time, using company funds to aggressively push ahead on exploration.

Clearing these hurdles will result in a fair amount of newsflow and exploration over the coming months.

Plenty of holders, like myself, have been here for years....... but I think it's important for people to realise that this is effectively a new company with new management (which isnt always easy), and some bloody good ST projects.


I don't think there is much more Jason and the team can do to show the market that they're not mucking around and are looking to get on with the job and add value. They've shown this.

The market dictates price, but compared to alot of ASX listed specs that could be potentially considered "peers", we are grossly undervalued IMO .... we just need the uncertainty of the current CR out of the way.


Fingers crossed,



Cheyne