I don't think we'll see a full reception of yesterday's binding offtake until the Chinese correction is complete. The conventional wisdom prescribes going to cash in times such as these until the all clear is sounded. Those of us who are waiting it out will need to wait a little longer for the 'risk-on' sentiment to return allowing the company making nature of yesterday's deal to be reflected.
Before yesterday I wasn't certain we would be producing within 18 months but now it's just a waiting game. Finance seems a foregone conclusion with terms likely outlined in the next 5 weeks when I expect the re-rate to $0.50+ will happen for a market cap of around $80 million.
KNL Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
