I have been busy getting the Troopy ready for a journey into the...

I have been busy getting the Troopy ready for a journey into the desert country so I have had time to think over it all. First thing we did is sell what we had left. The money is better spent on getting the Troopy in excellent health.
With the change in directors Kin has had a major change in governance and perhaps direction. Kirkwood was a Hamarnis affiliate as was Dixon. Add in Dawes and Monckton and Kin had an imbalance in Hamarnis potential influence. Please note that I used the word potential as I don't believe any influence was being applied and without Hamarnis inputs the company would have gone belly up. Kin now has the chairman representing the interests of the Canci family, Anderson representing Rivet and associates and a representative of the Delphi holdings. This is much more healthy in my opinion and gives a better spread of opinions and future direction. Rivet group and affiliates are surging ahead with their private mining company. They can do things much faster as a private company and we can only hope some of that drive is forced on the Kin management.

There are plenty of potential mergers and JV's that Kin could be involved in so I still think the project will go ahead in some form. Cardinia ores are lowgrade and can only be profitably mined and treated at Cardinia so higher grade ores need to come from somewhere else. Whether that is at the Cardinia area or from elsewhere is beyond my ability to predict however NTM to the North have been getting some good hits and press lately.

The PFS was a disappointment and after reading it again here are a few thoughts.
AISC is very high. They have gone from a rent the gear and mine it ourselves model to a full blown contractor model. Obviously they don't want to take any risks themselves, they prefer sitting in an office "managing" the contract. A return to an owner mining arrangement would chop the AISC back and add to the bottom line.
Moving stuff that has already been built or dug (an excavation near the existing tanks) should only happen if there is a compelling reason for it, such as mines dept requirements. Anything else is just pouring more shareholder money into the hole.
Gas for the power is a no brainer and they need to be congratulated. New road from the South likewise. This PFS includes a lot of stuff that was TBF in the previous DFS. things like building a camp, sourcing reliable water supply and roading, should have been costed previously and that means the comparison between the two studies is like apples and peaches.

I still believe that a viable and profitable project will happen and I also believe that then they will have some cashflow to properly explore the area with modern Geo stuff. I will be very surprised if that doesn't turn up more ore to process but of course how much is the key question.

I will be driving past there in a few days. It is really tempting to call in but having sold out I think this will be my last post and I wish everyone holding all the best. We will be out of touch for a few weeks or maybe more if that is where the desert roads lead us. It will be like Xmas to open up the laptop when we get back to civilisation and see what has happened and who knows it might be Xmas before we rejoin society.