Ann: Quarterly Report for quarter ended 31 March , page-17

re: Ann: Quarterly Report for quarter ended 3... kalmsg,
The sole reason for not selling is i paid overall in excess of $0.11 a share and i also have a significant holding which considering the turnover in KEY fully paids will not be easy to quit at a reasonable sp, also i hate selling at a loss,however in this case i will have to accept the inevitable!!!
How much cash have KEY invested in Tanzania? IMO a hell of a lot more than they will get for selling out of the area.
In relation to the current returns from the UK investment, they are way down on receipts to date,their statement of blaming the weather is falling on deaf ears from my point of view as every year the UK roads suffer icy road conditions albeit some years worse than others.
Just because the drilling has been put back does not indicate that their cash burn rate will not be affected.Every stage of this will mean payments of somekind have to be made.(same as building a house, incremental payments).
Yes,i am now going to sell out of KEY over the next month or so as this stock IMO has no real chance of improving for at least a year or two if we take managements performance to date as a guide.
All that taken into consideration i hope that your confidence is justified some time in the future.
Dapper