Finally my frustrations with KKO have been partially assuaged ;
1) They have finally started a practical and low cost electricity generation exercise utilizing hired equipment; "Negotiations and planning towards a “Proof of Concept” infield power generating plant have advanced. A 1.2MW gas-turbine genset has been identified for rental and the technical plan is being handled by expert advisors."
2) They have finally entered agreement negotiations with an elephant user in their area - Sasol. Now what about ESCOM? "An NDA was signed with both Sasol and CEF leading to further technical discussions, displaying their corporate interest in the Company’s project. They are busy evaluating the potential for indigenous gas provision to the Secunda plant as part of the transition from CTL to GTL. A meeting was held between Kinetiko and Sasol Gas Procurement in JHB in late June to advance the level of cooperation and planning towards eventual production in Block ER272".
The main source of remaining frustration remains the Sproule report. Just release it already because people are beginning to wonder if it is being held back because it holds bad news.
KKO Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
