What's the source of that claim from SBM on being approached by...

What's the source of that claim from SBM on being approached by KIN?

My understanding is that SBM was approached by a KIN shareholder, not KIN itself.

I agree that KIN is in a difficult position unless it finds something that looks more compelling in the next rounds of drilling. Like you I don't see SBM's arrival on the register as much of a benefit to the rest of us, unless they are going to assist in moving the project forward. Proof of the pudding here would be some kind of tolling deal. But there has been no news on even a discussion of that since SBM bought its stake.

The question is whether Delphi is willing to do the work to woo some alternative suitors. Unfortunately, it and the other companies from the same German group seem like relatively passive investors. But who might they target? GMD might be in the market for KIN's ounces, with projects not too far to the south and ambitions of becoming the next mid-tier producer. Red 5 is probably too busy getting King of the Hills into operation. NXM has very similar deposits but is too far south and looks like being swallowed up by NST. DCN is another potential option but where would it get the capital? Maybe DGO could take the lead in a deal with Dacian if it sells its stake in DEG, but that doesn't look likely. Anyway, DGO's strategy is based on exploration, not production.

So nothing too obvious at the moment, putting the pressure back on KIN to hone in on a newer, larger deposit.