So KDL saw negative cashflow for the quarter. At this rate it will be down to zero cash in about six months time (without external raisings). Have a look at the millions in admin charges every quarter. Where is all that money going? Former management to blame for operations? Well, they were experts in their field and were hand picked by KDL. But Ellendale was a basket case with a short mine life. Management couldn’t change that. Found it worrying that company made financial forecasts based on ‘hoped for’ diamond price rises with Tiffanys. That’s pretty naughty.
KDL Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
