Ann: Investor Presentation, page-5

Thank you Andy for the post and the link.

The supply of new gold is interesting particularly
the length of time that it takes from discovery to market.
While we tend to think about short term catalysts such
as political turmoil, banking snags and impending inflation
we tend to disregard long term supply limitations.

I have just had a look at the 23 goodies listed on last week
end's Fin Review with a P/E, i.e.: earnings, and I have found
that while many had earnings in 2013(hence p/e) that many are
now in the red or borderline cases and none are paying dividend
3 or 4 made profit only by flogging assets,

Of course NCM does not even make the list because of cash burn.

The norm seems to be well over $1000 USD all-in sustainable COP
which positions KRM nicely at about $700.

All we need now is for them to get stuck into 'that there" Splay Vein.
Cheers
Moorookamick

PS: I agree Andy that the new CEO should be complimented in
keeping the market well informed during this crucial ramp-up period.
MM