Very Low Volume, page-11

Thank you Andy for the post,
Even at the POG in AUD where it is ($1416/oz) KRM can be very profitable
over the next year. With between $600 & $700 oz net profit after tax this
year (KRM will probably not pay tax this year because of accrued losses)
the company should return good results for this Fin Year.

Now that the throughput should be at 140K tpa, there are two challenges
for management:
(a) to achieve optimum grade by tapping the Splay vein ASAP.
(b) to upgrade the plant( with minimum disruption ) to 200K tpa throughput.

Fundamentally , these two items will determine SP going forward.
A lift in throughput from a 140K tpa to 200K tpa represents a 42.8% lift.
And an increase in grade from the current 10.5 g/t to say 14 g/t would
represent a further lift of 33.3% (combined 90%)

With COP remaining virtually constant, this would represent a doubling
of profit and share price and, IMO , senior management options should
be struck at share prices representing these higher throughput/higher grades
and not at production figures that we are already achieving during this ramp-up
(i.e.: 140k tpa throughput @ 10.5 g/t).

And finally Andy, I am tending to agree with you that all this money printing & increasing
debt will lead to galloping inflation later which will make gold shine.

Cheers
Moorookamick
PS: As a shareholder I would like to personally thank Bill Phillips for his loans
to the company last year & his ongoing assistance on-site. mm