Many factors are coming into play both general (gold price rises and M&A among gold miners) and Kings specific (a substantial shareholder is increasing her stake in Kings and jv partner of Kings in San Anton, Gold Corp, is aggressively buying up gold miners). Over the last 1 yr, Gold Corp has outbid Barrick, Newmont and now Eldorado to 3 gold mines. Althu we saw the determination of GC in buying up mines to shore up their production, let's not forget the 3 losers who are still out there looking for mines to buy up and they are getting scarcer. It is interesting to note that GC came in only after someone started the bidding processes. It worth noting too that the big seller of 500k of kings shares sitting at 17c when the price was around 12c has since move to 20c, I think. Look like a cap from a buyer. If you are sincere about getting a good price for your share, why spook the market with a big sell order at 17c when it was trading around 12c.
KMN Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
