Hi Gumboots, if you want to know who is heading down the same...

Hi Gumboots, if you want to know who is heading down the same path as TON you must understand first why TON went into VA. It was largely due to a potential commitment they had (capital gains tax ) and they didn't have sufficient cash to cover it so they needed to sort it out without sharemarket distractions imho.

So look for a company that has a large commitment that they don't currently have cash or line of credit to cover it, that's the type of company I would be looking at. Squeeze can come when they try to raise that cash, the big boys must know they are vulnerable and can get pretty ruthless.

Anyway no such problems at KNL, cash to meet existing commitments, so it's really a wait and see what the Tanzanian government do, how long it's going to take and raise at the appropriate time I suppose.

The other problem with TON is that it had no large institutional support, so that's another factor as you search for that company that might next go into VA. Look for one that despite a lot of talk has not managed to get any institutional support. Look at those with a lack of "becoming a substantial holder notice" as a starting point.

Again not a factor for KNL with its large institutional investor on board (though one must keep a close eye on them as they obviously can have big impact on price if they buy or sell, always a risk with the big boys on board)

Anyway, hope that helps and obviously other likely factors to look out for, quality of management, etc so it all a bit of a lottery, but TON experience has taught me its lack of cash to cover existing commitments and lack of institutional support that seem important factors.

Good luck with your search, sometimes one needs to look closer to home.