RE:RE:CredibilityHave to copy the original post, tought it would be attached.
New to stockhouse. First post. Average cost of KNT is around $1.10 per share. Not sure whether to wait this out or take the loss. Several issues with management.
- Started production last Oct/Nov and per the news release dated March 1/17. 200,000 tons with an avg 150 grams per ton produces about 95 troy ounces (if my math is correct). Per management: UNDER PROMISE, OVER ACHIEVE! If this is underpromising and overachieving, time to sell.
- Thought I read KNT owed someone (Cartisan?) 3000oz which had to be delayed (another red flag)
- Issued a independent technical report and the BC securities commission required KNT to corrected.
- Issued an press release dated March 1/17 under budget this and that, which also needed be restated. Again if this was under promising and over acheiving, we are in trouble
- In the press release dated March 1/17, inicated " we start processing our mined stope ore later in March" and haven't heard any updates about this!
- Thought I understood that Knt was going to produce 50-55oz of gold this year an there would not be any more dilution (recently but not sure of the exact date). Then BAM! 13MIL shares and 13 MIL potential warrants of dilution (plus 1-2mil shares of selling costs).
- Current cash burn rate/ (have not read the Dec31/16 sedar filings)?
- What I noticed is that if there is good results we have press releases with intersect this and intersect that. Per the press release dated March1/17, KNT should "start processing our mined stope ore later in March". I would have thought we would have an operational update by now.
- Have the cash to average down but under the current circumstances, not even considering it.
HOW DO YOU SPELL CREDIBILITY?
Not asking for advice, just constructive comments.