The announcement talks about further rainfall significantly higher than normal.
I can confirm (please research this) that the top half of Aust and the east coast is currently experiencing what is called an IOD (Indian Ocean Dipole), different again from el-nina or el-nino, read it for yourself, but the short version is that there will be up to 80% more rainfall than normal. This fits their explanation.
Now Looking at their reserves, they believe there is $200m in gold and silver (is that a conservative number ?) so the $ are there, they just have to dig it out of mud.
I do not like that the share price has dropped, i did no act in time, but I must be be fair to the management, I beleive they are trying, I might not agree with their method of implementation/delivery, but I have not run a gold mining company.
KBL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
