At least we know that tomorrow's quarterly will have at least a bit of good news. I worried about the survival of the company. But we will see something tomorrow to show why there is, at least, a couple hundred grand of money put aside by somebody for buying up the shares.
The most important thing is to get some resolution to the debt hanging over the company. With no cash flow KGM just cannot pay 18% interest on a multi million dollar debt. As Saracen was mentioned, they likely can pick up the entire 1+ mill of resource for between 5 and 10 mill. It is always nice when you can pick up gold for less than $10 an oz. But the POG needs to rise to get the stuff out.
Alternatively, the quarterly will show some promise re the little drilling they have done.
Alternatively, the JV they have with that nickel miner may indeed breathe a bit of life.
In any case, there will be some positive for sure in the quarterly. Stay tuned. 9 am tomorrow!
(and again, how sad you know what the announcement will be like based on the share performance leading up to it; the ASX is a sad place these days... unless you are an insider)
KGM Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
