Bad News!Wow! NEW 52 week lows for KNT and KNTNF!!
Management downplayed this locals beef and now it seems to be turning into something negative. Hopefully they can get this resolved ASAP.
Highlight:
A meeting was arranged by the MRA between PNG National, Provincial and Local Government agencies, BILA and the Company. On the morning of Thursday 24th August, prior to the meeting commencing on site, a group of landowners represented by BILA entered the mine via the 800 mine portal. The company removed its personnel from the area in an attempt to diffuse the situation without incident. However, during their presence, the group caused major damage to two trucks and one small loader/IT as well as three light vehicles and some underground fixed plant.
No other areas of the mine nor any areas around the processing facilities were impacted by the group and no other damage reported. The Company is currently assessing the full impact of the damage, however it anticipates that there will be a disruption to operations as the damaged equipment is evaluated and then fixed or replaced.