Ann: Kangankunde Operations Update, page-22

FWIW, my TA opinion is 13.5c next major support , being the bottom of 22-23 first pull-back, and the gap closed from the July 22 vendor sale agreement. 13.5c = $160M MC and huge retracement of all the post-vendor deal upside. One would think something fundamentally bad needs to happen (poor met update, Malawi risk issues rising, major cost blowout) for the market to sell down below 13.5c aggressively to push through that support.

I would also think brokers and their clients would be pretty happy to get re-filled and set back at 13.5c into a major development equity CR to build Stage 1 and the corp o/heads and working capital required before positive cashflow reliably kicks in. It's a shame and cruel reality that brokers sell retail, push the price down and sweep up large share pf the project at the bottom in equity CR's.. but that's the market we swim in and that's why Lassonde is hard to avoid.

GLTAH