PTN 3.92% 5.3¢ patronus resources limited

Ann: Investor Presentation - Resource Rising Stars, page-5

  1. 862 Posts.
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    RJ presents well I think. Also Chair of Spartan, who had a good year.

    Actively looking for a CEO. Wondered about that, good to know.
    Actively considering Kin's own version of regional consolidation ... looking for cheap ounces from companies who are struggling to raise drilling cash,
    I wonder if they might buy some individual leases which sit in the middle of KIN ground in a few places, like Victory, Mt. Flora, and Randwick.
    Mentioned SP should be about 15c if all the resource was valued at what GMD paid.
    It will make a huge difference being to able to explore without the clock ticking on the next capital raise and pressure to find something quickly which will interest the market. New strategy because find 10k, 20k ozs wasn't moving the market.
    Credit given to AM ...( he has left to run a company which can drill forever funded by royalties). Clearly left in good standing.
    Confirmed GMD wanted the ore which was permitted and ready to mine to get Mt. Morgan's going quickly. When they do get Mt. Morgan's going KIN's GMD shares could be worth more (I am thinking, he didn't say that ... could already be priced in, of course).
    VMS deposit is definite ... the VMS assay of base metals is equivalent to about 5g/tonne gold, and they are just on the edge of the deposit.
    Deep holes below the gold deposits in the Eastern Corridor aim to find gold well below existing deposits to drive a major rerate of the deposits. Hard to hit relatively narrow targets deep, and expensive, but Spartan are doing it and it would make a big difference to the SP ... something to be excited about. The geos will know when they see the cores ... apparently the geos now have portable XRF machines (about $30k each I think) which detect gold concentrations from spot checks of cores in the field, so with luck some good news before the long wait for assays.

    Interesting to hear a mill is back on the table, if they can prove a 1 million ounce reserve, but also drilling out and permitting deposits which can be sold to one of the nearby mill holders.

    It is fun owning SPR from .12 and watching it go up in multiples. A lot less fun waiting to get back up to break even with KIN but there are some clear possibilities now for the latter, thanks to moves under AM which resulted in the sale of DCN shares and then ore to GMD. A lot of overlap between KIN and SPR teams ... RJ said the board and executive are hands on and speak weakly, sometimes daily. Didn't know that.

    GL to all holders, especially those like me who remember the TD days, KIN going over $.30 and the cheap mill that was not to be. (Wonder if M2M is on KIN's radar).

 
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