King River Resources Ltd T.KRR.W

Primary Symbol: KRCLF

Metals & Mining Gold

King River Resources Limited is an Australia-based exploration and mining company. The Company operates through two segments: ARC High Purity Alumina (HPA), and Exploration and Evaluation. ARC HPA Project segment develops the ARC HPA process and precursor compound to produce HPA. Exploration and Evaluation segment is engaged in exploration and evaluation activities of its gold projects in Australia. The Company’s projects include Rover East Project, Tennant Creek East Project, Barkly Project, Mt Remarkable Project and Kurundi Project. The Mt Remarkable Project is located 200km southwest of Kununurra in the East Kimberley, Western Australia and covers over 2,100 square kilometers of adjacent and/or nearby granted exploration licenses. The Tennant Creek Project is located to the East, Southeast and South of the rich historic goldfields of Tennant Creek comprising gold-copper exploration leases and applications measuring some 6,000 square kilometers.

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King River Resources Ltd

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Comment by goldhunter11on Jul 03, 2020 1:26pm

211 Views

Post# 31221321

RE:Seeking Alpha, article by Peter Arendas

Modification to my previous post.

Would like to add that the author of this Seeking Alpha article should have stated the number reported are in USD to inform investors on both sides of the border. KRR is a Canadian company and they report the dollars in Cad dollar (unless noted otherwise, e.g. in this NR they reported 5M dollars but stated that this is in USD. The shares issued for this was 35.1Ms at C$0.506/s (for C$17.76M) so the total payment for the royalty reduction from 7.7% to 4.75% would be some C$25M.
To make it informative to investors on both sides of the border, writers should state clearly the currency if they are Cad $ or USD.
GH11
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goldhunter11 wrote: This article gives wrong information (particularly in the Summary) compared to the company NR. It says (quote)

"- Karora Resources and Maverix Metals agreed to reduce the Beta Hunt mine gold royalty from 7.5% to 4.75%.

- Karora will pay Maverix $5 million in cash and approximately $13 million in common shares.

- The share dilution equals 5.74%.

After the royalty is reduced, it is possible to expect Karora to finally start focusing on the coarse gold more."

Only the share dilution number of 5.74% is consistent with KRR NR. The $5M in cash is supposed to be in USD, and the number of shares issued, as payment, is 35.1 M shares which are worth about $17.7M for a total of ~$25M (rather than $18M as stated in the main text).

I would trust that the company NR would give the correct information. Also, the royalty as I read it referred to the Au portion, the Ni reamains at 1.5%. Please verify.
GH11
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https://seekingalpha.com/article/4356490-karora-resources-hunt-for-coarse-gold-can-begin