Hi Joewolf and all,I’m afraid I share similar fears to you and I...

Hi Joewolf and all,

I’m afraid I share similar fears to you and I was wondering how long the $8M raised in March would last at the current burn rate. Seeing the price once again under $0.40 as we arrive into June I can’t help feeling we may be seeing some more shares issued at around the 35 cent mark for those members of the inside club.

Talking to mining people in Indonesia I understand that things are being made difficult in all kinds of areas such as customs clearance at the wharfs for parts vital to the mining and equipment supply companies. I also feel that other Australian government activities such as turning back boats etc. are adding pressure on foreign investment within Indonesia.

I can understand their government stance of wishing to add value to their resources; however, it seems that companies that are making all the right moves to do such value adding are being tarred with the same brush as those companies that are dragging their feet.

The January 2015 mining company kick in the orchestra stalls is not far off either:

“The Indonesian government imposed an immediate 25% export tax in January for the country's copper concentrates, and it will increase to 35% on January 2015”

http://www.mining.com/newmont-mining-may-halt-indonesia-operations-19788/

We are caught up in what is really a Nickel, Bauxite and Copper argument but it’s cold comfort just the same. I agree there appears to be a great deal more going on that we are currently being told. I would like to think that KRM with its local Indonesian connections and compliance with resource value adding such as in country smelting etc. we would be exempt from the general ill-feeling towards foreign companies there. The old ugly American tag appears to being applied to genial Australians I fear.

I had understood that the various mine inspections and work practice studies had been passed with flying colours and that the forestry department was happy in regards to the haul road and that we were just awaiting for the final tick of approval. That being the case like you I’m baffled by the time taken to reach this final approval.

It’s been a very frustrating wait for shareholders and whilst I don’t know where or from whom the June date for approval came but I do hope for our sakes that it is at least correct this time.

If Mario Draghi and the ECB boys decide on negative interest rates or European QE at their Portugal meeting later this week it could provide an opportune time to bring some of those bonanza Gold grades to the market.

For the moment I will keep the faith and hang on another delay and I may need to re-think.

Cheers and very best regards: Andy