Bill Phillips is an old-style prospector/miner. He took a...

Bill Phillips is an old-style prospector/miner. He took a closed-down Medusa, re-opened the old Co_O mine and without bothering to spend money on exploration, simply followed one rich gold vein after the other. He sold it to Medusa in 2006, stayed on until 2009 and then returned to Sumatra where he had bought the old KRM workings from Kerry Packer's company back in 2000. Once again he has got the mine into production using local labour rather than ex-pats in hugely expensive machines. Only very recently has he starting to get drilling rigs into operation... and despite minimal drilling has already discovered some very rich shallow strikes 'among a multitude of epithermal quartz veins'. It took Mr Mkt over 3 years to recognise Medusa for what it is.... namely an incredibly profitable gold mine in a geogological zone riddled with rich epithermal veins. Mr Mkt kept waiting for a large JORC to be announced. Well Helloooo... this type of geology doesn't lend itself to large JORCs. MML/KRM kept it simple. Follow the quartz with the visible gold until it peters-out. Meanwhile keep a few rigs in action so one knows where to begin mining again and which is the widest richest seam to follow.

Phillips has 40 yrs of coal-face experience in the gold mining industry. Most of it working these type of gold seams. He has huge wraps on KRM and imo there is every likelyhood it will be another MML. Scary thing is: They are finding gold seams so fast it could outgrow MML. Production scheduled to treble in FY12 at cash cost of $25/oz. And that's not a typo. IMO BUY KRM asap and ride the wave just like Medusa followers did 2-3 years ago.

PS. Tim Treadgold loves KRM. Has written 3x about it in recent Eureka reports. TT is very canny/successful journolist/investor in the resource sector. I've done well following his advice in the past.