With KRC we are seeing a back to the future event again and again.
That is the drill bit never, ever delivers on the many and varying theories they have.
"shallow" drilling apparently commenced two weeks ago. KRC has a habit of quickly reporting positive news - because it needs to. Over many years the company has acquired a reputation for brining out "positive" news early a bad news later. The lack of any "positive" news to date is a real worry and something KR shareholders have witnessed about a dozen times over 6 years before.
The current slip in the share price is consistent with lack of drill or field success. I and long term shareholders have seen this all before. I have no expectation on this drill but wait to be surprised after being a shareholder for 6 long and disappointing years.
KRC Price at posting:
1.4¢ Sentiment: None Disclosure: Held
