My last post and KRM's latest ann was deleted because of the new HC mess.
( please refer to the ASX site for KRM's latest announcement)
The nod to go ahead from the Indonesian authorities is great news and
we should have an ann in a week or so confirming that official clearance
has been recieved and that we're back mining Talang Santo.
In the interim permission has been granted to mine out the egress shaft
which should produce some useful ore.
Initial mining of the high silver vein should produce serious money
( see ann re high grade silver grade) and gold grade should
be better than drill results ( see previous ann re washout). High silver
grade is usually at the top of the veins with a decrease in silver and an
increase in gold as the vein is persued deeper.
We should have about 2 months full Talang Santo production in the June Qtr report and, IMO, about $5 Mil in the till having paid down the $5 mil director loan. We can then estimate the full forward year's production from these
results.
Once there is confirmation technically that we have bottomed out, we should
see the SP move back towards $1 and beyond.
The prospects for gold is quite good which, IMO, will be moved alond by Japanese Yen printing and the associated inflation.
The USD is a different kettle of fish because it is the reserve currency and as such it has little competition from the Euro at present.
The last ann is great news for long term ( true believers) holders of KRM and
I have taken the opportunity to top-up.
Cheers
Moorookamick
PS: Chris Start (CEO) and the board have done a great job to keep the company
going over the past 6 months without diluting our holdings. It is evidence that
one needs a board with serious skin in the game (which the board & KRM
management has.) MM
Add to My Watchlist
What is My Watchlist?
