a few things ahead of the upcoming AGM on 15/12:1. current price...

a few things ahead of the upcoming AGM on 15/12:

1. current price of raw IRON ORE is going thru the roof globally, last i checked was sitting at US$145/tonne.

whilst KFE is not in the business of shipping iron ore as such, it is the significant raw ingredient for our project to produce steel billets.
note that Australia is the largest producer of iron ore & china is our largest customer.
WHY we don't produce steel billets in Australia is because its too expensive (our labour costs mainly),.
we are in this project in Nigeria to produce steel billets primarily due to the low cost to produce.

2. the days of the lifestyle directorships on ASX small cap junior miners seems to now be over.

ASIC announced that "Legacy Iron Ore" former director & company accountant were charged with stealing offences - 07Dec2020.
this was a 10 year investigation, showing there are no limits to how long ASIC are prepared to go back, if warranted.
i think this fires the warning shot over the bow for many similar boards who feel they can fleece SH's of junior miners.
this now places a significantly higher emphasis on corporate governance today and going forward, which can only help our KFE project.

ref. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2020-releases/20-311mr-legacy-iron-ore-former-director-and-company-accountant-charged-with-stealing-offences/

3. pre-AGM ANN from current KFE management

i will be reserving my further commentary until the next KFE ANN ahead of the AGM is released (hopefully this week).
thruout this period i've attempted to be fair and neutral for the benefit of all KFE SH's and I'd be looking to hear the plan presented.
i know a lot of others will be conducting a similar detailed analysis and crunching the figures on their proposals to take us forward.

the bottom line IS and ALWAYS WILL BE returning SH VALUE back to KFE, there is no value having a $1B steel producing mine if the SP is still 2c.

GLTAH KFE