General discussion, page-2417

Some posters keep going on and on about some sort of royalty concession by the government, it's simply unlikely to happen, an 8 year tax free holiday (20%) and no withholding tax (10%) on profits remitted outside the country has been provided by the BOI. It seems a lot of people on this board can't read a press release, or understand what kcn has been granted. In combination, these 2 tax concessions more than offset the higher royalties that apply under the revised mining law. To expect more, is not based in reality: the "settlement" is pretty much done.

I'm getting more than tired of the chronic whiners on this board that go on and on regarding updates from management. By any measure, the management of this company has preformed exceptionally: your mine is stolen by a host government, you manage to raise the money to fight expropriation using a sovereign risk insurance policy that the company had in place, you effectively "win", get your mine back and gain financial concessions that bring you back to slightly better than where you were under the old mining laws, you finance for restart at $1.50, instead of $1.00, with very reasonable dilution and you're now pouring gold. These guys have done one hell of a job to date. If you don't recognize this, you've either never managed a resource company in a developing nation, or you're a fool.

We've sold down hard from $2.07 after the financing announcement, to $1.50 was no surprise as institutional participants in the financing would sell off to lock in the profit. Selling below $1.50 seems somewhat odd at this point in kcn's restart odyssey. The largest shareholder, gdxj etf adjusts their holdings regularly and can be a large buyer or seller depending on the market demand/performance of the underlying etf. We've seen from the insider trading reports they are also one of the main lenders of shares to those shorting the stock. The existing shareholders that elected to exercise their right to $1.50 shares will have received those shares by today (monday) or tomorrow (tuesday). I suspect we'll put in a near term bottom early this week and slowly grind our way back to $2.00 over the coming months.