On days like today when holders are happy to sell their cheap KRE I like to remember..
At April 2011 prices (~50% increase from March prices), the Cummins Range resource is estimated to contain 120,000 tonnes REO or US $12.4 billion in contained value at a 1.0% REO lower cut off grade. -KRE will gain 55% on spending 10mill within 4yrs 80% on DFS
there is every reason to see the REO resource to increase on drilling work underway
We have the cash to get through to 55% ownership of a 12.4billion resource ,no need for cap raising dilution etc
Buying more at this levels no brainer
KRE Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held