A 28% pop up in the share price is nice, no doubt. But there needs to be some substance behind it if the price is really going to take off.
The philosophy behind Kimber is to prove up as many ounces in the ground as possible. My concern with the latest news release is that I dont see any significant increases in resources.
We really need to prove up 3-5Moz before we go looking for a buyer. I dont see numbers anywhere near that from Monterde. We are still waiting on updates from Veta Minitas and Carotare. Will those deposits provide a big increase in resources?
Why are there so many delays in getting the 43-101 updated. All of this was due back in September. We are now in November and we still only have one part of the updated resource estimate. The rest coming "in the near future"
I have been an investor since 2006 and will remain so until the buyout. I do believe in Kimber, dont be mistaken about that. Its just that times like these are very frustrating. First the delays, then an underwhelming news release.....at least I think it is. If anyone out there has a better insight into the numbers Id love to hear it. All I see is a 6% increase in resources and feeling in the dark as to what management is doing/thinking.
Golden Kiwi.