Like most i am dissapointed with the announcement as it did't provide the clarity that was needed.
A few points i would like to share and my thoughts:
1. Judging from the comments, we are or close to, maximum pessimism on KIN.
2. The 'Cowboys' will be moving away, and one interesting point, is my old friend, Trevor, is stepping down. Trevor holds 10m shares, so this is a big move and a positive one. A new independent chair is IMO what Sprott pushed for.
3. So we will get a new chairman and MD and await Sproule position. Whatever happens, it is best it happens now then half way in building the plant. We have Sprott to consult. Many players in the game.
4. RIU explorers presentaion out tomorrow and TD talking, will be very interesting. RIU has always provided KIN holders with further clarity via presentations and investors meeting up.
5. The expansion of the board signals, the coming growth of the company. You don't drill 100k km and build a plant with a small team. This should relax employees to focus on tasks rather than becoming the jack of all trades. Regardless of what has happened, we are moving forward. The 'circus' hasn't stopped.
6. You don't hire someone to calm the markets quickly, instead as a holder, i want the best. If it takes them a extra week or two, that is fine. Yes, they didn't need a TH, and most likely buying time. KIN can get a great chairman and MD, we have the money, resources and the ground to attract such a person. So i hope they don't rush BUT instead make this clear to the market. Kin have NEVER been good promoters. A Skill they still lack.
7. The Shareprice is making us all sweat. This is mainly thanks to the lack of communication from the team. Hoping we get some clarity at the RIU tomorrow. Anyone going and could update us, it would be great.
We have everything in place expect lacking a few key people. This can be solved.. What can't be solved, is mine problems, ore, metallurgy etc. Let's be thankful we can do a Steve Mcqueen, and do the great escape.
I guess if you are not convinced you can sell and buy other Goldies as they are also very cheap.
Trying to stay positive.
All the best
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