KRM 0.00% 3.4¢ kingsrose mining limited

Ann: High Grade Assays Confirm Second Ore Body at Talang Santo, page-4

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  1. 7,501 Posts.
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    Hi Andy and all, I, too, hope that the new CEO will keep the market informed of progress as we move forward to full production. We have just had over a year and a half of negative news and the company owes loyal long term shareholders regular updates (not just the mandatory price sensitive ones) to allay speculation and SP volatility. I also agree with you Andy that the new CEO should ensure that all regulatory and safety issues have been met and that he does not delegate this to the Indonesian contract miner as did his predecessors. A good translator costs two bob.

    Given that the SP needs to increase by over 100% to get to where it was before the mine closure and because of repeated unmet forecasts by Mr Huffadine's 2 predecessors, our new CEO has the added responsibility of reestablishing the company's credibility and market confidence. This, IMO, should start with timely progress reports until KRM has at least 2 full quarters of production on the board. Normally its fair enough to say that only price sensitive anns. (as per the last anns) should be made but KRM's history over the past 18 months has been far from normal so the least the company can do is to keep shareholders regularly informed until production stabilises in 6 months or so.

    The splay vein development looks very promising and perhaps the company should be spending the extra $2mil soon to take throughput from 140,000 ton p/a to 200,000.( The extra 60,000 ton p/a could yield an extra 25000 ozs AU or about $20 mil revenue or $11 mil to the bottom line in one year .

    IMO, this $2mil upgrade should take precedence over all non Talang Santo drilling because T. S. is a much bigger mine than Way Linggo and , consequently, a much longer mine life. There's plenty of time for further exploration later. We need cash in the till now.

    Cheers
    moorookamick
 
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