interesting comparison

Whilst surfing hot copper, the 100% increase in Kidman Resources ("KDR") flashing across the top of the screen caught my attention. I thought I'd take a closer look to see what the fuss was about and what it takes to move 100% in a day.

KDR has three targets areas and has not yet defined a resource. One of those targets happens to be very close to Mineral Hill (see slide 12 of May 2012 Melbourne Mining Club Presentation). It had a market cap of $16.65M at a share price of $0.195. On the release of "best ever intersection" results today, the share price rose to over 40 cents so market cap is comfortably over $30M.

And what were those results? 36m @ 4.1% Cu equivalent including 10M @ 10.3% Cu equivalent.

Compare that to KBL. Announcement on 11 October 2012 with 26m at 7.1% Cu and 4.3g/t Au including 7m @ 15.8% cu and 14.3g/t Au. I'm not a geologist but I think its pretty clear which grades are better.

And by the way, KBL has an operating mine with various defined resources and a market cap of only $27M.

KDR has no resource, no operating mine and yet doubles to a market cap of over $30M on what I see as inferior drilling results. Go figure!

Hopefully KBL doubles in a day once we see the outcome of mining those grades which shouldn't be far away.