I have checked my facts and that's why I strongly believe that...

I have checked my facts and that's why I strongly believe that the company will need an additional massive cap raising. Consider the following information that is all contained in company announcements

1. Page 25 footnote Pearse orebody is expected to be fully depleted and processed by Nov 2016
2. Page 11 Corporate presentation (March 2016) C1 Costs are expected to be down to US616 but in fact are sitting at around $1350. On the chart it has AUD yet the headline is USD. Is this an attempt to confuse the reader or is it a low level oversight??? Either way it is unclear what the actual C1 costs are nor what they are aiming to get them down to.

The definition of C1 costs are:
‘C1 cash costs The costs of mining, milling and concentrating, onsite administration and general expenses, property and production royalties not related to revenues or profits, metal concentrate treatment charges, and freight and marketing costs less the net value of the by-product credits’

This does not include head office expenses, note holder interest or streaming costs
So can someone show me any evidence that the company has brought C1 costs down to anywhere near US616 per ounce? and can anyone say with any certainty what the running costs of the company are? How much does the company accrue for interest and what revenue does it pay to Quintanta?

Once the high grade stuff is mined out what are the expected C1 costs of Pearse North which has 1/3 the grade…does anyone know with any certainty??

All the verbal hype is that all is good but the facts so far suggest otherwise, if all was so good, why the note issues and why the cap raising, I mean if all is as it is presented then KBL should be rolling in it notwithstanding a month off production due to weather.

I want to see actual cost of running the company and the cost of development before I re-invest in KBL.

The company has so far failed to communicate effectively and reassure me that all is actually well. They could start by releasing a cash-flow statement.

I don’t want to rain on anyone’s parade and I am not saying that they won’t pull a rabbit out of a hat, what I am saying is that this is a marginally better bet that Race 8, horse 8 barrier 8 on 8/8/2016!