RE: RE: Still Positive on KGN kxl???
Yes, I have a position, waaay under water. Probably the worst book to market loss I've had in the past 10 years.
Excellent diversified portfolio of properties, very good credible exploration people, well-connected for financing. When the golden mile was looking so promising it got caught in the updraft and general bull run and alot of paper changed hands in the $3-4 range. The book and float is a complete disaster and constant abandonment and tax-loss selling has pummelled it down. Probably a great time now to have a good DD look at it - as I recall from the last time I looked when culling my portfolio (and deciding to let it run), they had sufficient cash to hang on to their now undervalued assets. Haven't been following it to the point of negligence. I'm preoccupied with a few other things.
Don't know if they will have to dilute, as far as I know things are still promising in their Gravenhurst gold properties - they have a really extensive land position probably more likely to produce the second coming of Campbell Red Lake than anybody else ... but its greenfields pie in the sky stuff. Sure is going cheap these days. The market is ignoring their other prospects which aren't shabby at all - uranium and some base metal projects in Western Canada.
Proof to me there just isn't much money around. But a world with a reserve currency transition will want to put on a safety line of gold, and the expanding economies plus the rewiring of the whole industrial complex away from the demon oil is going to put the squeeze on an undercapitalized world mining complex. 20 years of neglect spells opportunities galore IMO.
Have a great weekend free from the tape ...
CG