Kiwi67,I defintely think you have excellent knowledge on this...

Kiwi67,

I defintely think you have excellent knowledge on this stock on the past discussions. I however think that Brewer was the main reason you are interested in this stock and he has gone.

I assume you mean Noble get $160/t (not $16/t) as it said in the ann 30 Jul 2012 that "Manganese ore sold under the Off-take Agreement will be priced based on the BHP reference price (expressed in US$DMTU (per dry metric ton unit Mn content)), CIF China basis". We will find out what manganese ore price to be when we ship it as it is based on market price.

We now have new set of management and the Noble loan is excellent for such a small cap like KAB. The prepayment loan already helps not to dilute this stock significantly and at the same time transfer the risk to Noble.

There was expectation of when the loan is made and when the equipment to be purchased and deadline was missed last year. Without loan, meaning offtake is uncertain, the company shouldn't buy the equipment even if they have money. My experience with CCC also tell me to be cautious with Brewer's company. He's gone, we start a new chapter. The last quarterly shows good progress, let see the next update.