Ann: Leonora Gold Project Update, page-38

Sorry to read the bad news today. I was only expecting some construction delay but this is really serious. Basically facing significant dilution, and an incompetent management.

I was originally interested in KIN's nearology to Gwalia - so far nothing much has happened on that tenement as far as I can tell.

As I mentioned in a previous post, I owned shares in NAV pre-GFC, and just rode that up and down but have come to the view that their Leanora project was a bit suspect, especially since I also held shares in another explorer with adjoining tenements where they seemed to be scratching around forever without finding anything viable. The 8:1 strip ratio is also a big turnoff for me with this project.

I would not be holding KIN after that announcement. Unfortunately the mid-tier goldies such as NST, EVN, SBM, SAR, RRL are not cheap and refuse to do a nice retrace for a good entry which would allow one to recoup losses in a reasonable time with some safety. RSG, AQG have a lot upside but are a lot riskier.

Good luck all.

loki