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KGL - KGL RESOURCES LIMITED


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Nathan

 

What is your point?

 

Do you have a spine?

 

I am making a point for share holders. We cannot trade. simple as that. We are the ones who lost our money and the ASX chooses us to punish. If the accounts have not been prepared is that my fault? If the Directors choose not to keep you informed is that my fault? ASX and ASIC should get together and start punishing rogue directors rather than innocent share holders.

 

You support of the suspension on the basis that we don't know the outcomes of certain events.

 

If that argument were to stand, how come we can trade any exploration company at all? Do we know the result of explorations before hand? Of course not. We trade on information we have and we make a decision on that. The issue is not what we don't know, but rather that we cannot take a position.

 

What are you going to argue if the company goes into liquidation and you have not been given a chance of recuperating any of your investment?

Go back on this site when I argued this same story a couple of years back with ABC. Same arguments from tame goody goody share holders about rules etc. They lost all their money. No director is in jail. Thankfully I had no shares in that

 

Regards

 

 

 

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I fully support the right for people to sell. I hate long suspensions. PLV have been in a similar boat even longer than KGL. But atleast in KGL situation they are using asx listing rules to their benefit. They MUST by ASX rules remain suspended until they release their financials. So I blame the ASX for allowing these situations. But also the market isn't fully informed. The situation is much worse than the last official update.

 

Simon thinks 4-6weeks more to fix this mess. I have my doubts on that timeframe. Being suspended makes little difference. I really think we might lose everything.

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Stubborness killed them. They knew long before the market knew about Murchison. But they kept selling the story and trying behind the scenes to save it. Maybe you can blame the fall in gold but management are naive if they didnt factor that into the feasibility of the project.
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Positive that they got another $500k down payment and the sale seems to be progressing. With Salam backing ROL, I wouldn't have minded KGL accept partial payment in script to maintain some exposure to a successful Andash. Maybe I'll look into ROL a bit closer. They have assets in Phillippines for diversity and to kill time while waiting for Andash.
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Stubborness killed them. They knew long before the market knew about Murchison. But they kept selling the story and trying behind the scenes to save it. Maybe you can blame the fall in gold but management are naive if they didnt factor that into the feasibility of the project

 

Hi---have never quite understood why KGL had any hope, two simple charts tell the story, surely on a weekly basis a gold stock should at least trade in the general direction of the host commodity.

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  • 1 month later...

Bought some at 5c. Assuming the Andash sale goes through and then KGL tip in $3M for Murchison creditors, that will leave around 12c per share in cash with no debts.

I have zero confidence in management but don't mind buying 12c worth of liquid assets for 5c. Previously sold all my holding at $1+, some at around the $1.40 mark.

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I would think the cash backing is less. The $1.5mil deposit is almost gone now. Then $3mil for the DOCA. Leaves just $11.5mil from the Andash sale. Salaries and planned drilling in Jervois will eat into it quickly and Murchison care and maintenance. I'd say cash backing is closer to 10c and entry at todays price (7.3c) is dangerous on a risk adjusted basis for Andash sale. But if sale goes ahead then possibly get the 10c and maybe a bit more.
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