They will not use the old PFS. They should allocate at least $25m for exploration and the balance for a new PFS based off the exploration. KCN alluded to this in 2017 presentations. As miningnut points out they have debts to sort out as well.
The Canadian market is happy to fund big exploration programs on decent projects. I hold a few TSX listed gold developers and they just keep drilling. They also spend a lot on infill drilling to build up measured resources and proven reserves, something the Aussies do not do relying on indicated/probable suck it and see approach which often results in failure.
There was also significant gold potential at NE which would be a focus of renewed exploration
KCN Price at posting:
$1.55 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)