Transparency and going forward

I am certainly cynical but i think the timing of the recent SPP to get some cash in to advance the Goongarrie Project and then straight after call it a bust doesn't sit right.

If they had of announced the bust and the CEO going what would have been their ability to raise any funds? Very very limited as they are now.

Luckily for them they have a party wanting to have a go at mining one of their Menzies pit. Why not be totally transparent about it though

The party that is planning on mining would have done their numbers and know exactly how much waste/ore they plan on mining and at what grade they expect. They also would have planned a budget with all their costs including mining, haulage and processing.

Why wont the publish that and what sort of free cash flow they expect and what they expect their 50% of the profit to be??

I think it will be a very small number thats why. Any cashflow is welcome so why not publish it.

On the 24/3/21 they put out a scoping study with final selected pit shells. Selkirk had total material movement of 637000BCM for 3239OZs. In the announcement they put out on 27/9/22 saying a Mining Proposal had been lodged it stated total movement of 125,000 BCM over 3 months. Significantly smaller. No mention of expected OZs but obviously has to be significantly less as total movement is less.

WHY be sneaky and non transparent

My theory is this- KWR wasted a heap of $$$ on Goongarrie and now need to consolidate. They did a raise to top up the coffers that will last quite a few 1/4s. They will now just sit back and do the absolute bare minimum, drill a few holes to look as though they are interested and make some sort of justification on their salaries.

Unfortunately for shareholders all that will mean is that the share price will continue to drift lower and liquidity will dry up even further