Gold, page-2

Assuming KAI has $4 million in working capital, then when the agreement is completed, KAI will have $24 million in cash and stock. Current market cap is $29 million. So Mt. York gold is valued at less than $4 an ounce in the ground. Guess the market doesn't believe that KAI can raise the money to mine it and/ or it won't be profitable if they do mine it. If they can drill out 2 million ounces for an open pit based on a profitable PEA projection, then maybe they can get financing. Still a long shot but there's some hope left. It would help if gold went to $4,500 an ounce which it might do this year the way things are going.