This is a very frustrating stock. I have been holding this now since Bayan took over. The assets are there and from what I hear they are progressing them quite nicely. The time for coal is not at the moment with the prices down at the bottom of the cycle. From what I have heard during this time the company has been progressing in developing the Pakar assets. If you look at Bayans report they have significantly developed the Tabang project which will be directly related to our Pakar assets. The most annoying thing about this stock is that you never hear from management and I think that is the weakness the company is experiencing at the moment and I really hope that this will change. They really need someone who can talk to the markets here and keep them fully informed of the progress that they are making.
People talk about the court cases. The first one they won against chimera. Chimera now owes KRL money. The second one really has nothing to do with KRL it is a action of White Energy against Bayan. The court just froze Bayans stock in KRL. It really has nothing to do with KRL at all. Bayan were never going to sell their stock anyway.
My hope for the new year is that the Directors start talking to the brokers and the general market and tell them what they are doing and why KRL is one of the most undervalued stocks on the market right now.
KRL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
