Clarified many issues at last night meeting in Melbourne. The last resource est. for Mt Isa does not cover the entire 1km length. Presumably, due to the dist. between drill holes, there are certain sections that cannot be included into the calculations without further infill drilling. Hence, there are big gaps along the 1km which were not taken into the last calculations. Secondly, the est. is based on a depth of just over 400m. Past drill results indicate mineralisation still open at depth of 700m. Looks like much more upside to come in the next few months. Heard that someone did have to sell Kings to raise funds to cover their margin call elsewhere. That accounts for the recent steep drop. Like most notable juniors, Kings did have its fair share of approaches from big miners. Heard one top miner in the ASX100 attended Kings presentation last year and approached them right after the meeting with the intention to take up some equity in Kings. After the rejection from Kings, they have gone on to purchase another mining junior paying close to $1B. I am sure Kings know what they are doing and what is the best price for our share. Kings is one company you cannot make a hostile takeover because the top 20 shareholders hold about 62% of the total shares. Interested party cannot buy off the market as it will drive the price up in no time. Hence the constant approaches they had from interested parties. If anyone can bring the mines to production quickly, it is the Kings team. I may not understand and know why the price fluctuate but I cast my vision further ahead and looks forward to seeing the share price catching up with the constant upside in the fundamentals. Looking at the share price market depth, I couldn't help thinking someone is trying to keep the price low by displaying big selling volumes in the 50s.
KMN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
