Hello Andy and all,It didn't take the new CEO long to release...

Hello Andy and all,

It didn't take the new CEO long to release the bad news.
He started Monday.

From what I can gather there is development ore comming out of the mine
which attributed to the 1000 ozs forecast for Dec qtr. Lets hope that the
1000 ozs production holds which would mean $1.2 mil revenue.

It is encouraging that the new Talang Santo mine has the potential to deliver
up to 500 ton/day which is twice what Way Linggo was delivering

The Indonesian Government secondary processing of minerals regulations does not effect KRM because all of its dore is refined in Jakarta prior to export.

I have already communicated with the company and they have assured me that
the plant is in top condition to take Talang Santo feed and as per previous
announcement it can be upgraded for $2 mil to take the increased throughput
later.

While the delay in permits to move to full production is a temporary setback,
let's hope that the development ore comming out of the mine is high enough grade to pay some of the bills.

The quarterly due before the end of the month should have more details.

This temporary delay does not, IMO, seriously effect the forward fundamentals
which, IMO, look good

If KRM can crank up to 400 ton/day @ 12 g/t, we should see good EPS even at the current gold price.

Good luck to all long term holders.

Moorookamick