Hi all,
I'm having a close look at KGL and I must say I do like what I see. I have read through the broker reports, announcements and of course a lot of your posts over the last few months and it looks really interesting.
As I have been doing my due diligence a few questions have come up that I don't feel I have been able to get a clear answer to in all my reading. I was hoping some of you could help me out given your clear knowledge of KGL - I'm talking to you chuk and others :-)
1. What do you think about the quality of management? I've read the CEO/MD has been involved in commissionings before but what I really want to know is do you feel that he has delivered on his promises so far? He certainly seems to have built a really smart growth plan but the key of course will be delivery and I'm trying to get a feel for how often they do what they say.
2. Although the current resources are a good start they clearly need more at all of the key projects. I get the feeling that Jervois resource will increase substantially but after reading pretty much everything I cannot seem to find much discussion over major new finds at Andash and Burnakura. Please tell me I've missed something.
3. Burnakura: The HELMSEC broker report on page 3 says that the previous mining company found lodes to be more complex than initially thought. What has changed to make us believe KGL can deal with the higher complexity???
4. Jervois is a long way from a port - 300 klms to the nearest railroad and a long way to a port. How much additional cost could this add or is this only minor?
5. KGL looks like it will need around $40 mill to finance there projects before the gold cash-flow really kicks in. Do you think this will be debt or cap raising?
6. Does KGL have any hedging? If they fund the $40 mill from debt they will almost certainly be forced to hedge but I'm interested if they have already done so.
7. As I said earlier, KGL have really built a strong growth story. If they pull off each project this looks like a 10 bagger easy. Do you think they have too many projects on the go? Tough question that only time will probably answer but I'd be interested in your thoughts.
Thanks again for your input. The KGL forum is a really interesting read with some really insightful analysis. KGL really does look like a potential 10 bagger.
The Freak.
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