quiet times, page-12

Matey,

They are not panic sellers cutting and running, they are thinkers who are getting the hell out of the way from the haircut coming your way - its called a consolidation.

Expect a 25% evaporation of value post consolidation as a guide.

Its happened in the last 9,999 consolidations, no reason to suspect it wont happen here.

The other potential nasty is the "early exporation" moose pasture the new gang are vending in for a bundle of shares.

Just how "early" are we talking? If the expenditure that the vendors have made on this ground to date doesn't marry up with the value paid for them in shares, someone's been dudded. A bad sign is the total lack of disclosure of the particulars and history of these overseas leases. It would be most unfortunate if the directors of KAL allowed the quality of their existing assests to be eroded by an influx of ordinary moose pasture located abroad.

This could be a case of putting $3M cash in at bargain prices and then taking $2M back out through a crappy vend.

Hopefully my concerns will not bear fruit.

Anyway, stay out of the way from the consolidation. If you want a recent example, see GDA. Total massive haircut