Dear Gordon,
I was prompted to write to you by the announcement of the latest issue of options to directors and other staff of Kimber.
As a shareholder I find it distasteful that a whole year has passed since the last grant of options in February 2009 and yet the final 43-101 resource estimate for the Monterde property (Carmen, Veta Minitas & Carotare) still has not been completed.
Micon was commissioned in April 2009 to compile this new estimate. The report should have been completed by September 2009, and yet 5 MONTHS later it is still not complete.
As an engineer by profession myself I find it hard to believe that the engineering and geological calculations themselves could have been underestimated by 5 months.
What is the reason for the seemingly excessive delay?
Your answer would be appreciated. I remain a committed shareholder and do believe great things lie ahead for the company. However, from time to time I see things that make my blood boil, and as the CEO I feel you should know about it.
Regards,