Ann: Trading Halt, page-10

The timing seems right for a merger which aims to use the dismantled mill components at Cardinia. Originally the plant came from Lawlers, and was in good condition due to good water at Lawlers. But the ore was different at Cardinia, and I think variable because the plan was to use multiple pits from different ore bodies. It was, I think, a bit of a metallurgist's nightmare. I have an idea Lawlers was easy, and they were getting most of their gold from gravity. Someone will know (@Alforesco ?) So the plant could not just be reassembled and fired up .. they had to design a new plant and use what they could from the Lawlers plant. ( Enter the saga which left KIN with a poor reputation ... hence the coming name change. They can have "Roo Mining" if they want.)

There is a Como engineers report on the plant engineering and metallurgy. Referenced here, but i haven't checked to see if they are still on the website. If not they will be on the internet archive. https://www.kinmining.com.au/wp-content/uploads/2020/02/Response-to-Unauthorised-Release-of-Information.pdf

Point is, having learned the hard way that plants aint plants, the various components at Cardinia (including a 2nd, refurbished ball mill they purchased to lift processing capacity to 1.5 Mtonnes pa), would have to be part of the DFS from the start ... in other words if they are going to use the Cardina mill then that needs to be factored in sooner rather than later. A DFS is expensive and needs the right information to be worth anything.

What I have learned the hard way is from here on in it is all about the metallurgy at Pine Ck ...

I will be watching with interest. It is on the cards the Cardinia mill is not part of the process, in which case the question will be what are the synergies or efficiencies?

Good luck to KIN and PNX holders ...