Lots of good data in your post Goodoh but I can understand the sp tanking when you start talking bankruptcy. KMN is run by ppl with great experience in the mining game and I doubt they will allow that to happen. Norm Seckold commissioned a gold extraction plant in Georgia (Russia!) and was at the helm of Bolnisi Gold (the same co) when it was taken over for over $3 a share. I recently did the math for the in-ground value of their assets in Mexico and Kalman South and it works out to be over $10b. Notwithstanding that, it means jack if those resources aren't being mined. Drilling has stopped at CdG because no more is required to bring the project to feasibility study. Your resource grades and tonnages are correct and both will expand with drilling at depth for both Kalman Sth and CdG and for other targets nearby Cerro del Gallo. So, at least the burn rate has decreased but, even so, a further capital raising may be hanging over the sp. I think there's about 400M shares on issue valuing the co at around $40M, not bad for their properties and patience is the key word here. One way or another, though, and whether KMN does it or not, the rhenium at Kalman will come out of the ground IMHO because the deposit is of such a high grade. Even a medium-sized operation would be profitable and worth diluting the shares and, who knows, maybe even attractive for a big miner to take an interest. As you said, rhenium is expensive ($330/oz) and in short supply as well as moly being about 7 X the price of nickel at $28/pound.
Cheers,
Please DYOR. I know you will.
KMN Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
