Aside from the Machiavellian stuff on shareholdings, I still think the risk/reward in the bigger picture for KIN makes it worth persisting.
There’s 1.23m ounces in the mineral resource now. If Cardinia Hill turns out to be a similar size of deposit to Bruno-Lewis, it could add another 300,000 ounces. And there is nothing in the resource at the moment for prospects like Lewis East, Helens East, Eagle-Crow, Iron King, Mount Flora, East Lynne, Collymore, Black Chief, Comedy King and a few others. I’m not saying that they are all going to become major deposits but you’d think there is a reasonable chance of finding another 300,000 ounces across the group
Maybe the market won’t like the story of a series of smaller pits (a problem now, I reckon) even if they are reasonable grade and reasonably shallow. But there’s also the holy grail of hitting a larger deposit, or extending out substantially from an existing one, in a way that delivers the bigger, higher-octane find.
All of this is underpinned by an existing resource so it’s not as if KIN is going to disappear without trace. Sure, a collapse in the gold price would be a disaster, although most of the sector is in that position. Worst-case scenario at the moment seems to be that the company is indecisive in setting out a plan that new shareholders can buy into, giving more opportunity for someone to buy it on the cheap. But at least there would be some kind of dollar value for shareholders even in that.
