My Take Aways:1) Tafta rolled over, prudent, this was disclosed...

My Take Aways:

1) Tafta rolled over, prudent, this was disclosed on Jan 10, 2023
2) Lots of exploration happening out there including RAB & RC drilling, but no assay results/resource estimates...."Kingsgate expects to provide further details on its drilling program shortly". Interesting, maybe very interesting.
3) Akara preferred shareholder ponies up 200,000,000MM baht. I'm a little puzzled on this one as typical ThaiCo share ownership structure is 51%/49%, with 51% majority Thai ownership (common shares) that are non voting and non dividend yielding. Normally the foreign 49% shareholding is in the form of voting/dividend yielding preferred shares. The preferred shareholder, in this case, should be kingsgate, which would infer "out of one hand, into the other" and not a material event (there was no earlier disclosure of this). I'll have to dig a little more deeply on this one.
4) Quarterly NE "keep the lights on" costs of $157,000....low, who really cares?
5) One bid submitted for NE, apparently not acceptable, for any number of reasons in its present form. Normally this is when the games begin, we'll see....
6) A stated potential future debt financing, sale of NE and/or equity raise. I would have preferred not to see the mention of an equity raise, and in my opinion, this is the only negative in this quarterly report. That said, if I was in KCN's position, I would cover all possibilities in my disclosure. Based on experience, I believe that a number of Thai banks would be willing to fund a project like this.
7) From the images on page 3, recent new ore piles are seen present on top of the old/existing pile. Interesting.
8) "Full production by end March 2023 quarter". There we go.

Share price was smashed today...oh well.

GLTA