The problem is not that the announcment was underwhelming, but more what happened the next day, with the director Dudley resigning due to personal reasons. Rightly or wrongly the market has taken this as him having a falling out at board level about the way forward for the project. Now the share price never lies but i can tell you that it was not a board room spat, but indeed it was other issues outside the company,i have been told what they are, but am not going to post the reasons because it makes no difference to the sp and people {even company directors} are deserving of a little privacy in their other lives. All of this has created uncertainty about his shares , he owns loads and the market is expecting him to dump them. Again i have been told that there are willing buyers who will take the lot, and i would expect that to happen in the foreseeable future. Where does that leave sharehoders???,well i think the announcment was very positive, they could be mining as early as next year, so maybe this is some short term noise, i think funding is not an issue, there will be plenty of big players who will like the economics of the project, i am treating this as top up time, lets see where we are once we have a dual listing.
KMN Price at posting:
10.5¢ Sentiment: ST Buy Disclosure: Held
