Presentation by James Farrell was a good opportunity to see KFM’s CEO and where he wants to take the company.
My take aways from presentation-
KFM’s primary focus initially will be hard rock REO exploration (while still exploring clay REO in background, et el).
KFM is well cashed up with about 6 million dollars which is enough right now for some serious drilling going forward.
KFM acted fast to lock up tenements along strike adjacent to the Chalba Shear zone (capturing the lion’s share of some 54kms of strike out of a total of some 60 odd kilometres).
Exploration is being lead at least in part by geophysics ( I think I got the right word?) which locates the presence of thorium and that these areas are to be targeted and there’s lots of these thorium targets to the West (about 10kms to begin with).
Drilling to start in late October. (The new targets represented a change in mineralisation? Massive monazite?)
The capital raise was kept at the lower end in order to help preserve shareholders equity and minimise dilution(board holds between 13.6-15% of total KFM shares).
James Farrell is a geologist and appears to be a straight talker which is refreshing change from some other companies.
Also my own impression was that KFM was regarded as the first mover in a regional scale opportunity (with KFM holding some 969 square kilometres of exploration tenure).
I’m pretty optimistic going forward from here.
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