Ann: Lapse of Unquoted Securities, page-2

Hi all,

Although when I say all I’m starting to wonder if I am alone in here or is everyone just shell-shocked or maybe just bored to death with this company.

Well it looks like the employee options probably originally issued to generate good will and a strong work ethic and put fire into the bellies has failed.   So with little incentive to grow the company the management and other members of the team appear to be content to simply take their wages despite the poor performance and laissez-faire attitude to shareholder value!

I suspect this problem and laissez-faire attitude started with the contract miners as they get paid irrespective of their production in the industry that’s just called attendance money.

I really feel it’s time the management took along hard look at themselves and until they decide to lift their game how about cutting back on their generous salaries until they start to perform and deliver the production ounces they have long promised.

My own private company builds and supplies equipment to the mining industry if you don’t believe me please have a look at the following web site:

http://ade.net.au/?about

We are also finding our business more challenging with China slowing down and the big mining companies pulling tricks like moving from 30 to 75 days to pay their suppliers. However, we have cut our own wages by half to keep afloat so I am not asking for anything I am not prepared to do myself.

Shareholder would be wise to remember the current management attitude when they draw all the money out in wages and then turn to the shareholders like some rich uncle for more funding!

The only bright note I can see is there won’t be more shareholder dilution well at least until they need to do another share issue or some other type of diluting fund raising.

I for one are growing very tired of hearing excuses, missed targets and general poor performance and I hope I am not alone in this, as I feel unless shareholders let this bunch of over-paid laggards know our feelings they will just continue underperforming and depleting funds.

I also now get the feeling I am just urinating into the wind and it may soon be time to sell out and move to one of the Gold mining companies where the management and team have a dynamic attitude and a decent work ethic for a fair wage and not just attendance money.

Cheers and very best regards: Andy


The Company wishes to advise that 4,000,000 unlisted Options ($0.55, 15 September 2015) have lapsed without exercise.
The capital structure of the Company following the cancellation of these unquoted securities is as follows:
Quoted Securities
358,611,493 Ordinary Fully Paid Shares (ASX: KRM).

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	Unquoted Securities Number	Instrument	ASX Code	Exercise Price	Expiry Date
1	1,500,000	Employee Options	KRMAK	$0.55	28 Jan 2016
2	500,000	Employee Options	KRMAY	$0.47	7 Apr 2016
3	500,000	Unlisted Options	KRMAB	$0.55	7 Apr 2016
4	1,850,000	Employee Options	KRMAB	$0.55	7 Apr 2016
5	500,000	Employee Options	KRMAK	$0.39	30 Jun 2016
6	500,000	Employee Options	KRMAZ	$0.44	11 Aug 2016
7	500,000	Employee Options	KRMAK	$0.41	2 Jan 2017
8	3,000,000	Employee Options	KRMAK	$0.55	13 Jan 2017
9	714,434	Share Performance Rights	KRMAJ	30 June 2017
10