Robbo, Heeman I think has pointed out you might be mistaking two...

Robbo, Heeman I think has pointed out you might be mistaking two Blackrocks. The Blackrock with contiguous deposit to us is a minnow even compared to us.

I don't want to talk down another company, but given this is on a KNL thread, neither do I want readers being mistaken into thinking Blackrock is in any way connected, particularly those who aren't aware of recent history (which was before my time as a shareholder).

If you go back through KNL's historical announcements, pay some attention to 2012. For those who aren't aware, a very quick history lesson (note I'm going off a bit of memory here, and I wasn't a shareholder then, so may be wrong about some specifics, but the main point of what I'm saying should be obvious):

- the previous KNL management/board (prior to Andrew Spinks, Robert Hodby, John Park, etc) had control of a big chunk of dirt, some or all of which now forms Blackrock's tenements, particularly including Ndololo and Kasita.
- KNL got some testing back, and to say it was a letdown would be an understatement (late 2012 was an announcement or two about this).
- over the course of 2012, as the Ndololo drilling was getting underway, Andrew Spinks and Co came on board, and I think they vested in additional tenements at Epanko, in return for Spinks and Co getting shares. The old management started to be moved out.
- the poor results in Ndololo and surrounding areas meant that KNL chose not to exercise their extension option over Ndololo. At the time, this meant the company didn't have to spend the $1.5m they had to pay the option fee, and instead chose to spend it on Epanko. Very, very wise move. The share price tanked for a long time, but it proved to be the best choice that management could make. They subsequently became the first ASX listed company with a binding off-take, and the first graphite company globally with a non-Chinese off-take (that last statement has proved to be rather more substance than in 2013 when we got our offtake).

Some additional points intertwined with the above:
- Warmcalmsea makes a good point: KNL have a world class graphite management team. This is a team that will actually build a mine, whereas most other graphite companies on both the ASX and TSX will never get into production.
- I remember Andrew telling me (back in early 2013 I think) that Tanzanian graphite was among the best in the world, if not the best. The unique geological conditions made it's graphite top notch, and every single announcement by every single other graphite company in the world since then has only supported Andrew's understanding of the geology of that part of the world.

At the end of the day, people need to make their own minds up about Blackrock, and they could have found something missed by other people, but the probability of them finding anything bankable after KNL already walked away from the land, is very low.


In addition, bear in mind that KNL management are locking up key consultants with African experience on exclusivity. i.e. KNL have the ability to chose the best consultants as a "first mover", and those guys cannot work for anyone else in various regions or the whole of Tanz, depending on their individual agreements.

Mind you, I don't want to talk down KNL takeover talk. I'd love it to happen. But methinks it's not time just yet. Need to wait at least a few more months before we get our first unwelcome advance.