There is no comparison between the management of KMN and BSG with the Mccrae's of this world.
Bsg Had small project in Georgia, important because of cash flow. Began involvement with Ocampo project in Mexico, sold out due to better opportunities and possibly lack of control? Opportunities are only offered to management that value add and are pro active. New project in Mexico with 100% control. listed separate 80% owned company on TSX (Palmarejo), this just includes the initial drilling location. Other promising surrounding areas are owned 100% by BSG. Have total control of project and moving rapidly toward production end 2007.
KMN Another Mexico project in partnership with Wheaton now Goldcorp. Gained 75% ownership by exploration investment. Were vulnerable to Goldcorp taking this back down to 30%. Could either maintain the 75% or take a permanent 51% ownership of the project. Opted for 51% and control of the project. And now Goldcorp will pay for half of the exploration costs. Are in the process of listing a separately owned entity on the TSX as with BSG. In addition have promising projects in Cloncurry virtually wholely owned and safe from the TSX listed company if bought out.
In my time watching these companies the 2 major personalities in the management (Norm Seckold and Dudley Leitch) have never sold a share. Their projects move forward always adding shareholder value with common sense decision making. I believe their purpose is to create a project that is profitable and an eventual takeover target. This is the only way they can get return on their very large share holdings.
As I have said previously I just hold my large investment holding and sell my trading holding into big spikes. The comments about the timing of announcements does not hold water in my opinion as this management has barely put a foot wrong and always considers long term shareholder value foremost. I have held BSG from 10 cents and KMN from 6 cents. I do not know the above management personally and make my decisions solely on medium term profit. DYOR
KMN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
