I agree that the mismanagement seems to have been part of the...

I agree that the mismanagement seems to have been part of the Kin business model. The ability to shoot oneself in the foot is bad enough but to then reload and go for the other foot is something very special.
But that is all in the past.We have new management in the proper places and even though I am hurting from it, the decision to stop and redo the whole thing is the correct one. Continuing would have ended up with a complete fubar.

I looked up the top 20 at the EOF last year. Collectively they owned 43% and I would be very surprised if that is not higher now. Add in the friends and family that they have associated with them and it should easily exceed 50%.  This should prevent a predator snapping up the assets as is often opined.  And on that note, St Barbara is often mentioned as a potential swooper. They have very short memories if that is the case. In 2010 they did a toll milling campaign for NAV and one of my cohorts was driving the ore to Gwalia. He described the frustration that treating the clays was causing Gwalia as "trying to cush and mill "shite". Apparently it slowed everything down and the Mill Superintendent stopped processing the instant the contracted quantity was in the feed hopper. Whether they would want to blend more "shite" into their own highgrade ore is up to them to decide, but I strongly doubt it and I don't think they have the spare capacity at Gwalia to do much extra.

With the review and rethink going on it would not surprise me to find a modified version of the DFS's mine plan. Using the Kyte ore at startup is a very smart decision if looked at in economic terms. If the Kyte ore follows the behaviour of Bruno's ore(mined in 2010) it could end up being a very bad move. Sproule is a metallurgist and presumably knew the issues but I have always felt uneasy about it. Mertondale has heaps of hard rock material to blend with the clays but it will cost more to mine and transport. Helens or Lewis South may turn out to have some hard rock and being closer will cost less to start the plant up.

So we sit and wait for the capital raising we have all been told is coming and watch the SP slowly sink. I always was in for the long term and have no intention of selling, I would prefer to be buying, but my wife would not be happy putting any more into "that bloody hole in the ground", so I behave myself and spend my time pondering the whole shemozzle the geology and all the logistics etc etc.

Next weekend is the Leonora Golden Gift weekend and Kin was a sponsor last year. I don't see the Kin name on this years program so hopefully we are not throwing more money away. The race meeting on Saturday is the social event of the year so it will be interesting which Kin faces are seen there.
http://www.leonoragoldengift.com/