Ann: Presentation to General Meeting, page-4

What I now appreciate is how the focus has shifted to a more substantial project. I had been a bit underwhelmed with the thought that paying more and waiting longer for the same (original) project. What I now see is that the extra time and money has the potential to lift the LGP into a bigger league as a more substantial project.

It looks like more focus on larger pits, including the deeper primary ore. Clearly the presentation signals the possibility that the revised plan could involve better strip ratios, higher average grades (perhaps implying higher annual production), and longer mine life.


Yes, you're spot-on there, Roo.

I think the earlier model, 'KIN Lite', was about getting into production with a very modest capital structure, and growing the project (and the Company) organically. The deeper primary ore, that "large gold footprint that is under-explored beneath 100m", was pretty much known, or at any rate strongly suspected - but was going to be tackled further down the track.

To the massive benefit, if all the ducks lined up, of the relative handful of KIN shareholders.

That fast-track, owner-build strategy was higher-risk, with several possible capital 'choke points' (nothing new to this Company), and not much room for technical or executional slip-ups ...like a mismatch between initial ore type and processing circuit(?). But ah ...what might've been!


Shareholders should be comforted, in my view, that the new operating strategy and lower risk execution plan is merely a reversion to a much more conventional development pathway for such a project. Probably of the sort Greg Martin would have had us going down several years ago.

Now there was a 'sliding door' moment.