I am a shareholder of KIN Mining and this is what I got in my...

I am a shareholder of KIN Mining and this is what I got in my email earlier today:

-----------------------------------------------

Dear MrAndrew Munckton,

I am very pleased that you haveattempted to contact shareholders via the email "Initial Response toRequisitioning Shareholders Letter". The share price performance of KINhas been bitterly disappointing over the past 6 months since the decision tohalt construction. Currently I, family and relatives, and friends are losing asubstantial amount of money in our KIN investment.

As a shareholder I would like togo further into the company decision to halt the path to production which wasannounced on the ASX platform on the 11^th April. This was the startof the rot of KIN’s share price. See pdf file “Leonora Gold Project Update 11thApril 2018”

 

On the 9^th of May, KINMining announced on the ASX platform:

An associate and a fellowshareholder of KIN, a couple of days ago, passed me the Como Engineers reportitself. Please refer to the pdf attachment “Como Engineers - LGP Fatal FlawAnalysis Engineering Report - May 2018”

 

In the Como report on page 7 itsays:

I personally have friends in theMining Engineering field and am told that when there is a pricing scope done,there is always about a 10% leeway as these initial quotes always begin byoverpricing the Engineering firm’s margins. From the quoted number of$AUD40million, it’s achievable that the project could be done for$AUD36million.

Back on the 27^thDecember KIN announced on the ASX platform “Kin Successfully Finalises A$35mSprott Credit Facility”. On 30^th May KIN announced on the ASX platform“Underwritten $11.3m Capital Raising” which was completed on the 4^thJuly on the back of the announcement “Non-Renounceable Rights Issue - ShortfallCompleted”. The Quarterly ending on the 31^st March shows that KINhad a cash balance of $AUD8.096million.

 

It seems that KIN Mining had thefinance to complete the construction of the Leonora Gold Project (even if theoriginal $AUD40million price tag was upheld) but yet decided to stop allconstruction and went on the path of exploration. As you would know this waswhen the share price (hence shareholder wealth) started its decline from25-28cents (week leading up to the announcement) range to 8c currently.

 

Can you please confirm why thedetails of the Como Engineering Report was NOT announced on the ASX Platformespecially if the figures DOES NOT indicate a blowout on LGP. The report wasdated back in May 2018 which indicates that KIN’s board has withheld thisinformation for at least 5 months.

 

I have replied to all on theemail list since I believe all shareholders have the right to know.

 

I await your response.

------------------------------------------------------Como Engineers - LGP Fatal Flaw Analysis Engineering Report - May 2018.pdf