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3.4¢ kingsrose mining limited

Hi Moorookamick and all, I tend to agree the current CEO appears...

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AndyIgo

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09/09/14

20:46

Post #: 13949329
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Originally posted by moorookamick ↑

These 2 updates have been well timed and adds comfort to
KRM shareholders that everything is going according to plan.

The CEO seems to be sticking with the original forecasts
(40 ozs for the remainder of FY 2015 and 50K ozs for
FY 2016) despite the publicity of the rich splay vein adjacent
to level 3.

Previous CEOs have said that the overall grade
of Talang Santo should be similar to Way Linggo due to
the Indicated Resource of both being 6.2 (see appendix 1)
but Way Linggo panning out at 14.7 (Measured- again see appendix 1)) due to
washout of gold in the high grade clay areas during diamond drilling.
One would reasonably expect that since the indicated grade of both
are similar at 6.2 g/t/ that the measured grades would also be similar
)Talang Santo has no Measured Grade published yet (see Appendix 1).

There has been no explanation by the CEO why August's throughput grade has been
10.2 g/t when previous announcements indicated that there was 8500 ton
of exploration ore sitting there ready for processing. Had this 8500 to @
13 G/t been processed right away it would have produced 3550 ozs AU
without any new ore from the mine. since early July.

The 3 day stoppage to reline the SAG Mill is also disappointing because
there has been 22 months to ensure that the plant was in good order and
ready to run for a year before downtime 0scheduled or not)
The 2 week delay in hitting full ramp up is also disappointing.

But all in all these interim reports were good and greatly appreciated.
IMO, , however, management should keep
ahead of the game rather than delegating responsibility to others.
The relining of the SAG Mill and the consequent 3 day down time
is a case in point and I thought that the 2 x ball mills would substitute
for the SAG Mill in a pinch!

If as previously reported by former CEOs that Talang Santo is a bigger
and as rich (similar grades) as Way Linggo then shareholders have a
right to expect much better results that current forecasts.

It will be very interesting to see what numbers the Sept Qtr reports.

Cheers
Moorookamick

Cheers

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Hi Moorookamick and all,

I tend to agree the current CEO appears to favour the conservative approach with his production forecasts and hopefully the reality will be that actual production ounces are greater than suggested.

I don’t mind them being conservative if it leads to delivering above their promises, I am just pleased they appear to have taken a much better approach recently to keep the shareholders and the market more informed about the mining activities.

Meanwhile as we await the next quarter numbers. An interesting slant on Peak Gold:

“The CEO of the world's most valuable gold miner Goldcorp (TSE:G) says "peak gold" will be reached this year or in 2015.”

“Only seven gold deposits holding more than 2 million ounces have been discovered this decade vs 22 in 1995 alone.”

http://www.mining.com/goldcorp-we-have-hit-peak-gold-48704/

Cheers and very best regards: Andy

KRM Price at posting: 49.0¢ Sentiment: Hold Disclosure: Held
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Hi Moorookamick and all, I tend to agree the current CEO appears...

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