Ann: Quarterly Activities Report, page-29

The reason to sell is risk. There are traders clipping the ticket - good luck to them and there are others who are Anchors - holding onto losses and a few who are free carry who bought in at 20 cents.
Sth America is a no go - so no love there and the Gold in the ground in Thailand is great and can be profitably mined if it was moved outside of Thailand.
The political risk is remaining and is too big of a hurdle to get over (do you see an end to the corruption between the Royal family and the Military??)

I know that the old Pan Australian had two deposits in Thailand and I'm pretty sure that Oxiana had some as well and they could not get them up and running at all (even though they could operate quite easily across the border) in Laos.

If you are sitting on losses I think it is an 80 20 bet that you will be bled out holding onto KCN. Some traders will clip the ticket and take some of the money off of the table and the managers of KCN will still do ok as the company bleeds down.

There has to be easier ways to make money on the ASX rather than going long KCN...
Good luck to the traders...