CJR

I hope you are well and behaving yourself in Florida. Us poor Northeners are still awaiting the promised warmer weather.

KRY share price activity recently in light of RML and GRZ pricing struggles is very positive. We have no cash, notes outstanding, no positive developments but yet we have a share price at 47 cents. If someone had asked me to explain this I would just have to say that we have a conforming MOC to mine one of the largest known gold deposits in the world.

I will hold my shares till we have an outcome, one that rewards fair play. I believe it will happen sooner rather than later. Fung's magical money act will continue and funds will be raised to see us further down the road.

Ultimately some form of a revised deal that grants the permit will occur allowing the introduction of a JV partner. This will probably happen at a higher gold price which bodes well for our stock price. I fully intend to be around when the stock hits $ 4.

It never hurts to look at the worst case scenarion (credit protection, bankruptcy etc) however having said that I think we will be fine.

Cheers

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