You should not presume to know or interpret my actions. Yes, I was in MNS a few times recently. I am a day-trader, that is what I do... further I like MNS, it is a great trading stock (KNL is not) and I love the green, clean, chemical-free story.
However, for investing, KNL is a much lower risk play imho. Here's why.
After koh got schooled in grammar after his analysis of KNLs latest release (see above)... all I can say is it's best not to throw stones because MNS has been in constant
discussions with Western
partners now for over 18 months - I guess they simply
intend to secure an MOU
Anyway I am not saying it won't happen, I am sure it will. However the average lead time for KNL's conversion of MOU's to binding offtakes is 7 months, for SYR's 1 western offtake it took 16 months !
Don't kid yourselves. I know MNS likes to tout they make things happen fast - e.g. finance... that worked so well that they backtracked on their 150m term sheet last year and decided to pursue western finance and conduct a proper bankable feasibility study
Because, in reality these things do take time, especially when the CAPEX is US$269 ! Banks aren't gonna just fall into line WITHOUT heavy scrutiny, and it is obvious to all and sundry that Chinese offtakes do not hold water with financiers.
This places MNS behind both SYR and KNL in the race to production. SYR has self-funded and is underway, KNL expects financing within the next few weeks (maybe exlpains the increased volume?), MNS is still chasing MOU's.
Now if you look at the EV to NPV ratios - considering all the risk KNL has removed they are trading at ridiculously cheap levels. one-sixth of SYR and 3/4 of MNS (and that is not taking into consideration the recently improved 10% initial production increase to 44k tpa OR the staged increase to 150k tpa)
Time the market took notice.
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Cheers and GLTAH, R
(20min delay)