Good question I couldn't find anything on KRE's website, I...

Good question I couldn't find anything on KRE's website, I imagine NAV's share holdings would be expected to appreciate in value whilst KRE is spending the cash on the tentenant.

How NAV would extricate their share in the investment I would expect either the following to occur:

1. A takeover or corner stone investor comes into the picture of KRE and buys out NAV's share of cummins range or share holdings.

2. NAV could sell on market either now or later if the sp goes for a run (11m @ 8c = 8.8m cash) provided KRE is spending its rightful share s per its IPO

3.KRE could do a CR or chew out some cash and buy out the remaining or part of their share (unlikely to CR at what 6c per share to shareholders!!)

The scenario that I'm looking at is that NAV will need the money sooner or later with its own gold mining operation needing more development work and might sell out a share of cummins range i.e. 20-50% as per their agreement on cummins range.

What's becoming more and more clearer over the coming months is this:

- Melalongue will need what roughly 1-3m to get it started to a point with a rig to get a decent idea whats beneath it prior to undertaking full ownership (4m)

- Cummins Range will need further drilling at depth in the guts where the higher grade remains open and along the North West and South East extensions plus metallurgy work on the mix, whats that lets say 4-6m this year

If we get some juicy big hits or at least a marketable JORC TABLE (from any of our projects) and we'll have to bounce off our lows and get some investment from the bigger players who would rightfully like to get on board an advanced and undervalued JORC rare earths developer.

How NAV profits or scavenges $ from this situation is up to their circumstances but I suspect their (NAV) board is only in for a free ride for their own benefit and not ours.

Just my sentiment.