I have been at and conducted a number of presentations to brokers around the globe. If KDR went to them today and did a presentation they would get two questions asked of them.
1) When do you intend to drill out Browns?
How much are you going to need to drill out Browns?
If the answer to 1) Is not as soon as we can get drill permits - & - 2) Enough to cover the drilling, assays and resource calculations
Then they will not receive any positive responses.
The perception is rather simple. If your going to do a job - do it properly and do not muck around.
$2.9 million is survival mode. If the market hit turbulence tomorrow, they do not have the reserves to push on with the exploration needed at Browns.
Hopefully the next round of results are as expected and off the back of it they can do a 1 day placement and get on with securing future funding in a hurry.
If they do, it should not hamper the progress of any revaluation they may otherwise receive.
IMO DYOR
KDR Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
