Tolga Kumova Joins KFE, page-65

UKwoody, thanks for your input.

That there is a long way to go is evidenced by management's failure to find a cornerstone investor with real financial muscle and iron ore or steel project development and operating experience. Presumably that was the brief given to Canaccord a way back. Nothing happened until Diversified Metals Holdings - which ticks none of the boxes - appeared. It would seem companies with operational know-how and deep pockets were not interested.

Perhaps the newly acquired WA leases can produce the cash required to fund the initial stages of the Nigerian project, but I imagine - unless much of the profit is given to a mining contractor - bringing those leases into production will require a fair chunk of capital. Will the Board enlighten shareholders when it provides its September update?