Your analysis of me couldn't be more off the mark. I invest...

Your analysis of me couldn't be more off the mark. I invest almost exclusively in small cap mining stocks and have done so since 1983 so I have seen my fair share of winners and losers.

It appears to me that you aren't acknowledging the difference between an investment and a gamble. KBL is a gamble and by no standard could it be called anything else. It's obvious that none of the key drivers for the success of a company are certain in the case of KBL.

Shareholders are merely hoping/praying/wishing things will go well and based on what you and others have written, I think we can agree that there is common ground between our two positions namely being what shareholders of KBL are GAMBLING on i.e,

1. Gold price,
2. Exploration success that will sustain the company production beyond a few months
3. The development expenses and AISC cost of Pearse North (only 15,00 oz)
4. Satisfactory resolution to the ~13m note holder debt by Feb 2017
5. No further dilution

To be clear, some of my biggest holdings are in companies that 2-3 times more debt than KBL i.e AMI. I'm not scared of debt and no investor should be provided the company has resources that can produce a positive cash flow to meet those debts without the potential for massive dilution to shareholders.

The only claim that I have repeatedly made is that KBL's known resources will not meet those debts and further significant dilution is imminent.

It must be said that Managements ruthless approach to ensuring that the company raises the funds to meet its debts at any cost has been nothing short of admirable notwithstanding the pain it has caused shareholders, I mean, these guys are absolutely determined to ensure the company survives. The tenacity of the board should be scary to investors because there is no way of knowing what your current stake in the company could end up as. Two months ago, shareholders owned 100% of KBL, today they own about 40-45% what will the current owners have of the company is say 6 months?...Again, it's a gamble but given the ruthlessness of the board, I will say that it wont be anywhere near 100% of the company.

When I started writing about this company, the pressures were different, now they have raised enough money to keep the wolves at bay for a little while longer and there is some room to breathe but in the absence of resolving the lack of ore issues, the reprieve is temporary however there will be trading opportunities...nothing wrong with a quick 50-100% return provided we know its a gamble and not an investment.

My eyes and ears will remain focused on news of exploration success and on how the ~13m Feb 17 note holders will be paid.

In the meantime, I wish you all good luck on your gamble.

Adios