re: Ann: Kin Mining to Acquire Leonora Gold P... G'day all! Well...

re: Ann: Kin Mining to Acquire Leonora Gold P... G'day all! Well quite an awesome announcement for shareholders this morning IMO.

Kin Mining are looking to acquire 745,000 JORC (2004) Oz of Gold for $2.7 million. That is effectively paying $3.62 / Oz ! The strength of Kin Mining relative to its peers in the current market conditions has created this opportunity that would have been unheard of in the last decade.

To put that in perspective many junior explorers work off exploration budgets of around $25 / Oz. Via this opportunity KIN can actually buy JORC Ounces cheaper than they can explore for them.

In my opinion if this deal goes through, Kin Mining will have removed years from its growth path towards being a substantial gold producer.

These Leonora Gold Assets of Navigators certainly fit the growing Kin story very well. As can be seen from the map below which I have copied from today's announcement the ground is very much central to all of KIN's current Leonora projects. In fact I would hazard a guess that Kin now well and truly have tied up much of the most prospective ground in and around Leonora now.

I have been doing a bit of research on these leases. Much of which has come from Navigator's ASX announcements from 2007 when they last appear to have been very active on drilling these leases. The grades and intersections are great and fit nicely with what I'm hoping Kin proves up across their other Leonora projects.

I have copied below some screen shots from (ASX:NAV) 2007 AGM presentation:

http://www.asx.com.au/asxpdf/20071126/pdf/31620014qv489z.pdf

I am also very excited about Kin getting the Merton's Reward mine into their portfolio. This was one of the original gold discoveries that kicked off the Leonora gold rush. Fred Merton was originally mining 7 Oz / ton when he first started digging 'Merton's Reward', I came across a couple of photos of this and have copied below. Merton's reward was mined from 1899 to 1915 and produced 60,000 Oz Au at an average grade of 21 g/t.

Again, congratulations to the Kin team for pulling this deal together. Along with their promising exploration results, particularly from Murrin Murrin what they have done and are putting together in just 6 months from listing is truly impressive in my opinion and their achievements to date in part justify what DRP saw in KIN and why we choose to partner and support this company.