i followed this thread but havent posted much. many of us including me got smoked. the announcements clearly built a picture of a larger strike length with good width followed by very wide intersections of "high grade graphite". This indicated the deposit was also deep. The assay results obviously didnt confirm any of this. At best the graphite was lost in the rc drilling and due to presence of water. possible but i wouldnt want to hang my hat on that.
However the assets were originally bought based on the historical workings at Ndololo East. These have not been drilled. The company drilled outer areas first which were not the prime target for logistical reasons. Obviously management got more excited by what they saw and felt this indicated potential large deposit outside of the original workings area which would have been a great bonus.
The decision us holders face now is do we hang on or do we sell. Looking at other graphite hopefuls KNL's market cap. is a little below where other African graphites are which dont have a resource but have prospective ground. Id like to see good assays on the balance of the drill holes but not relying on it given results to date. Apparently Epanco appeared ok (visual only) and also Ndololo central hasnt had any results yet. Would be a nice surprise if either or both were confirmatory though.
So this leaves the original workings site at Ndololo East which is about to be drilled. This will most likely determine KNL's future. So what do we know about this? Firslty the 50kg bulk sample with 15% graphite came from here. Secondly historical work i think was a 5m deep tranch which has high grade graphite throughout it. Apparently John Park is still keen on the area. So there is hope but as far as company and share price go were back atrsquare 1.
Id like anyone and everyone to add to this thread sensibly so we can all put our collective heads together and work out if we want to stay in or not based on what we know not speculation.
Good luck to us all.
KNL Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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