RE:RE:RE:covered my short here at 13.45 USI read in the Aussie press the reason they put it on Care & Maintenance back in December 2016 was because they did not get the local state government to grant permit to expand open pit at Stawell. Mineralization "dried up" where they currently were able to mine.
This seems merely technical and could have been worked around to get a permit issued.
I doubt this big selling is due to the convertible debentures.
The market thinks they gave away a gold mine for USD $ 6.25 M...the amount does seem very low.
What if they were to get the permit down the road? Arete will expand mine at depth is the aim.
KL should have kept and waited to see if they could somehow get the permit and not flip for a quick few million.
Back in the day...Crocodile Gold considered Stawell its NUMBER 1 asset believe it or not. Fosterville was secondary. Evidently, this has changed completely, but still $ 6.25 M USD is CHEAP.
JIN
prouditalian wrote: Disagree Jintsu...the bias towards gold is still to 1210 range. I just took the gift from KL today as most likely market doesnt like tis asset sale ( I have no clue though )... There is a risk for shorts tgat fed does not raise however so Im trimming some shorts.