re: Ann: Kin Mining to Acquire Leonora Gold P... Ok , got half of what I wanted...nice to get some ounces but would have preferred less tonnes and a higher grade.
The deal however is accompanied with a CR and will be followed by more drilling and therefore news which may move the share price. Having ounces on the books should open KIN to more potential investors who otherwise may balk at pure exploration plays.
What does worry me somewhat is that Navigator Resources ( administration), the party KIN are picking this up from, themselves picked this up from Sons of Gwalia in 2004 ( in administration) added to it, and couldn't get it off the ground in any meaningful fashion. This may not be particularly relevant in todays environment, but personally assets that are scooped up a multiple of times in admin sales sound a warning bell.
Kin hopefully will be the team that turns the ounces into cash, by mining or other means.
Some background info
http://www.navigatorresources.com.au/Projects/Leonora-(Au)
All things being equal this is another positive result IMO
Cheers
Dan
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