To even be in the ratings for a top player I would have thought...

To even be in the ratings for a top player I would have thought at the very least they would need to have at least one conglomerate target that they had done some exploration work on, and presented some sucessfull findings. As yet they havent yet reported making a start on exploration of the conglomerates, which the previous owners did not wish to explore further- an indicator they might not be too good. And they are now two exploration seasons behind just about everyone else. Taking these thing into account I think you might be being a little generous in rating them no 3.

Did you notice the results of Novos AGM are now out and the directors were all returned? I note they are not required to report the breakdown of the votes, as they would if they were listed on the ASX, so we may never know if the "toronto mafia" made any attempt to remove Hennigh as a director.

Personally I think its was just another thing Ramper Bob made up with the objective of deflecting criticism away from Hennigh over his failure to achieve much in the way of results, and make Sprott the "bad boy" instead.

Whatever the reason, I cannot see any reason to expect anything other than "more of the same" from Novo next year. So to reignite interest in conglomerate gold, and hence interest in KAI, we probably need a big breakout in the price of gold, and/or DEG or NSX (most probably) making a breakthrough in providing evidence conglomerate gold is economic to mine.