Ann: Trading Halt, page-36

My view is wait and see, but just in case in anyone is thinking of heading out onto the window ledge:

1. As FBX said, Kin have used trading halts for good news. Before he posted I had just finished going back over all the previous TH's to check. The last CR was not a great announcement, because .25c was a bit low, but this announcement did not say "new CR".

2. If bad, Bad news has either been building, or else something bad happened over the weekend. Neither would warrant a TH announcement. There are better ways to get bad news out. If something bad happened on the weekend better to just announce it. If it has been building better to ease it out incrementally - the incremental indications have been good, not bad.

3. My thoughts are that the job of dismantling the plant, transporting it, and re-commissioning it required a series of agreements to be signed with contractors. Reburbishing the mill and building the new tanks were presumably separate, which is why those jobs have started. In the past Kin have been particularly good at negotiating good contracts. About now they should be in a position to announce aggregated costs and timelines based not on DFS estimates (which were prepared by contractors anyway) but on signed contracts, so they will have firmer dates and costs.

4. Based on track record of negotiating contracts and project management, and assuming they would have found a better way to announce bad news than "look everybody, trading halt" my suggestion is come back in off that window ledge and have a nice cup of tea.