kaboko mining concludes us$3 million debt faci, page-74

Thanks a lot everyone.
Gained a lot of insight into KAB with your very informative comments...Neutral,negative & positive ones.
Here are the bad & the good bits.
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The good:
# High grades ...40 - 55%.
# Quality product with low impurities.
# Very favourable Tax regimen.....Much better than OZ.
# Producing this year...Big milestone.
# Finance sorted out...sort of.
# 2 majors in the industry are interested....They know better than all of us.
# EIM is putting a foot in....Probably hasn't finished buying.
# Tiny MC of $7m.
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The bad:
# No JORC....Hence lack of visibilty re life of project....A major hinderance to any rerating.
# Logistic hurdles in a landlocked country.
# Dilution...Perhaps around 500m shares for Noble's warrants,Celtic's CN,OKAP loan & Vendor's performance scrip.
......We probably should aim to value KAB as a $10m outfit rather than $7m....Not too exuberant at current state of play.
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KAB could lend itself to Short Term Trading (or even D/Ting) & may prove to be a viable longer term hold.
Volume is creeping up....Should be good to "play",regardless of whether it will become "a Blue Chip"