KMN - Kings Minerals

[Sean K]

Down 15%. Any ideas?

One trade (I think) at 14.22 of nearly 400K shares went through...That's a lot of dough for any small time investors/traders...

Since it broke $0.75 just a few days ago, it's just being smashed.



The facts haven't changed. This thing is sitting on a massive resource!

 

[Sean K]

Down 15%. Any ideas?

One trade (I think) at 14.22 of nearly 400K shares went through...That's a lot of dough for any small time investors/traders...

Since it broke $0.75 just a few days ago, it's just being smashed.



The facts haven't changed. This thing is sitting on a massive resource!

I suppose someone buying 250K at $0.59 is positive.....

 

[GreatPig]

Where did you get the sell signal from GP? Damn good one!

For once

My system brought it up. I don't know exactly what it's based on, but some combination of moving averages, ATR stops, and one or two other things. It's calculated automatically by the program.

Also interesting to see where it closed today using Fib.

May be ready to bounce back, but a bit early to say I think.

Cheers,
GP

 

[Sean K]

For once

May be ready to bounce back, but a bit early to say I think.

Cheers,
GP

This stock needs to be swabbed. Or shot. Down 12% one day, opens down 5% and then ends up 7%.

It was running so nicely too until I bought it. Sorry guys!

 

[Sean K]

Anyone still own this?

Just thought I'd put out a reminder to anyone interested. I'd expect another ann shortly on drilling at their key projects which really look good.

Key project (IMO) - San Anton, Mexico:

5.6 m oz au equiv.
Open all over the place with recent drilling hitting significant intersections.
Revised estimate due first qtr this year.

Seems to have found a base at 58/60 cents. Bit of resistance at 65, but a break though here might signal a return to the upward trend. Might have to wait for 70 + for that to be confirmed, but MACD is telling us the momentum is back up.

(holding)

 

[jonohall]

Hi could someone please tell me what charting software was used in the above posts?

cheers

noob

 

[Sean K]

Hi could someone please tell me what charting software was used in the above posts?

cheers

noob

No software Jono. Just artwork in MS Paint.

The chart is from Big Charts. You can choose a miriad of indicators to include. (ie, MACD, Stochastics etc)

 

[Sean K]

Into the All Ords today. That's ok for an explorer.

Support holding around .56/57 ish, but still descending triangle. Needs some higher highs....indicators say it's turning up.

 

[Sean K]

I don't like picking bottoms, but anyone think we're there yet? I'd really like to see this make some higher lows before buying back in but I've got a damn itchy finger...

I have only just seen their last resource upgrade from 13 Mar ann at Cerro del Gallo in Mexico and it comes in at a lazy 10.19 m oz au equiv. Not many deposits over 5m let alone 10...It's a 50% ish JV so take half of that. They're now doing some more definition drilling. PFS due in the second Q. When's that...Apr-Jun...

MACD still telling me it's turning, but no higher high yet. Needs to crack 65. I suppose if I believed in the fundamentals I'd just buy the damn thing!

 

[Sean K]

Posted the chart in the breakout thread as it's definately moved from the downward trend. Now has to crash through 70 ish which might be hard.

Posting here right now not just because of the rapid move, but the MACD and Stoch and breakout on vol are pretty bullish signs IMO.

Fundamantals no change. PFS due this quarter.

(holding)

 

[Sean K]

I daresay, something's going on here. Fundamantals no change. It's sitting on 11 m oz au equiv in Mexico.

Chartwise this has been an excellent example of a break out with significant follow through. Now at 91 cents.

Maybe too late to take advantage of this run. Might depend on what's going on!

 

[Sean K]

I have a feeling this breakout could be in relation to the Kalman Project at Mt Isa which had recently recorded some good drill intersections, with some essays pending. There is a company presentation being delivered on 19 April, which seems to be focussing on this project.

The project is located in the Mt Isa Inlier south of the Mary Kathleen deposit and is prospective for Cu, Au, U3O8, and Mo.

Last drill results below and map of Kalman.

 

[Sean K]

I'm going to the company presentation tonight. Hopefully the food's OK, and they don't go soft on the vino.

Interesting they list uranium as one of the first commods in the list from Kalman. This has been a minor part of their exploration in Mt Isa to date.

Anyone else going let me know and we can meet up.

 

[Sean K]

Very interesting presentation last night. While San Anton was discussed the MD, Dudley Leitch, really focussed on Kalman and what he is sure will be a world class Moly mine in the furture. Their tenaments in Mt Isa cover 40km length of the Pilgrim Fault which happens to hold the Mary Kathleen deposit and Tick Hill which supported MIM for years. The region also has occurrance of Haematitie which has drawn significant Chinese interests.

From Kalman the first drill program results included:

329m @ 0.46% Cu, 0.23% MoS2, 0.22g/t Au, 0.01% U3O8 for (2.51% Cu Eq)
73m @ 0.22% Cu, 0.43% MoS2, 0.13g/t Au, 0.09% U3O8 for (4.96% Cu Eq)
339m @ 0.54% Cu, 0.11% MoS2, 0.29g/t Au, 0.02% U3O8 for (1.79% Cu Eq)

He specifically made mention of the results highlighted as very significant.

The project is open along strike in both directions and depth.

As a comparison, he compared these results to the Henderson Mine (Phelps Dodge) near Denver Colorado, which is arguably the worlds richest Mo mine.

Hendersons:
Reserves around 160 mt @ 0.35% MoS2 (no other sig metals)
Mineralisation startes at 1000m below surface
Ore zones are generally 5-30m thick.

Kalman early holes:
73m @ 0.62% MoS2 Eq
329m @ 0.31% MoS2 Eq
Mineralisation is within 20m of surface.

Compare the thicknesses and % MoEq.

Also compare with other Poly mines like Olympic Dam:

OD:
374mt @ 2.1% Cu, 0.07% U3O8, 0.08g/t Au, 4.5g/tn Ag, for 3.6% CuEq

Kalman:
73m @ 4.96% CuEq (incl 0.09% U3O8)
329m @ 2.51% CuEq

OD lies with a structural corridor with local heat sources and haematitie associated with the mineralisation, aged around 1.5b years. Kalman is on a similarly mineralised fault, ages 1.5b years.

He urged us to compare Kalman with another project being developed by 'Blue Pearl' which is a pure Moly play and currently has a market cap of about $2b. I need to look into this comparison, to see why this is so important. Will update.

 

[Sean K]

I should also add to say that I asked whether they had done any radiometrics over the tenement and he said that this had already been done by the QLD government a while ago. (not sure why). He said that the radiometrics will be released around June and that he had the opportunity to view them. Apparantly, they looked 'pretty hot'. Not a big fan of U in QLD atm, but long term, it might be a significant factor for them.

 

[Sean K]

I'll keep this monologue going for a little while.

Has consolidated since the significant break out and has found 90 cents to be resistance. Has formed a dodgy pennant and looks like it might push though. Maybe too early to say, I would have expected much more consolidation between 75 and 90 no mans land.

 

[jooooooles]

I too went to the presentation for Kings and was extremly impressed. I love the technical analysis keep up the good work.

When i queried Dudley on the NZ Geologist's report that Kalman had a resource of 40Mt @ 1.5 % Cu EQ (4-5 billion in ground value of the top of my head did the maths a while ago) he was cautious in giving an answer. I suspect that this will be easliy acheivable and i would speculate that it in fact could me more around the 60-75Mt mark.

We should have a JORC resource for Kalman in August. When this is released to the market Kings will surely explode. The grades at Kalman are better thatn CDU's Rockland project.

In regards to SNN - have you heard the rumour that Goldcorp is on target for a takeover. Not sure if it is SNN exactly - have a look at this article http://biz.yahoo.com/seekingalpha/070417/32528_id.html?.v=1

Dudley reckons that SNN will be mining in 2 years time. The recovery rate of gold / copper / silver at Mexico is about 90% according to Dudley who also said that this is a conservtaive assesment

Here are some links to some intesting articles on Moly that you might find useful. This holds the key in creating value for Kalman in my opinion. The future is looking bullish for molly and I think the local market is still not fully aware of its uses and value.

http://energy.seekingalpha.com/article/31994

http://www.mineweb.com/mineweb/view/mineweb/en/page39?oid=18739&sn=Detail

http://www.imoa.info/FileLib/IMOANews_01-07.pdf

 

[Sean K]

While the Moly at Kalman has been of most interest recently, the San Anton Project is still chugging along and it looks clear that they will have more than one mine working the region down the track. Scout drilling west of the main project (probably around where my red circle is on the map) has just pulled in some pretty good interesections.

SP looks to be heading towards another break from the short term consolidation. At 88 cents atm.

 

[Sean K]

Now breaking up out of that consolidation. Few trades over 90 cents. Not sure if it will hold though. A few 100K + trades which is good to see. Some more serious accumulation. Could be a potential breakout I suppose, but the consolidation period it's that long so it's not really outstanding.

 

[Sean K]

It did end up breaking up yesterday to all time highs probably because this ann was in the air.

Outstanding intercepts of Moly, the 'metal of the 21st century.'

No uranium intercepts in these unlike previous drilling which is disappointing. It was south of the tennament that supposedly held the richer uranium zones.

Match price 97 cents from preopen, hopefully momentum will take it over the psychological $1 mark. Otherwise I anticipate some consolidation here.

Any Moly experts have an opinion on these grades?