KMN - Kings Minerals

[Sean K]

And I am freakin out about this H&S. Surely not possible?



Perhaps the rhenium is being swept under the carpet at the lab?

Yes, possible. Holey crap!

This was a disaster for me. Good tax right off though I suppose.

I am calling a bottom here.

Surely!

Surely!!!!!

 

[Sean K]

Incredibly, it's back down at the 'bottom'. I am so tempted to thrown a few at this falling knife, it's killing me. Maybe knife is a bad analogy for this one. It's more like cancer, slowly eating shareholder value away, until there is nothing left. I'm flabbergasted.

 

[Sean K]

Just as it looked like it had seen a bottom some punter clears about 15 lines of buys and dumps 400K ish. I wonder if it's the same player just trying to get out of the stock, or someone who knows San Anton is a turkey, and Kalman is a myth?

 

[Sean K]

Just as it looked like it had seen a bottom some punter clears about 15 lines of buys and dumps 400K ish. I wonder if it's the same player just trying to get out of the stock, or someone who knows San Anton is a turkey, and Kalman is a myth?

And then, someone just dumped about 2m stock taking out 20 or so lines.

Something dodgy doing on here folks.

 

[PhoenixXx]

...some punter clears about 15 lines of buys and dumps 400K ish...

i should have read your posting first before i jump into this bloody pool
Bottom? I wish...

 

[farout]

Interesting, very interesting.

Glad I didn't jump in a while back. Someone is trying to prop it up with a 1mill buy at 19.5c. End of day value should tell a story.

 

[Sean K]

I still think the bottom is in.

Perhaps the selling was the last of the Opies stock to be distributed.

Has held up ok since that buyer unloaded.

Bloody hope so!

 

[YOUNG_TRADER]

Kennas I reckon buying KMN at current levels seems like a no brainer,

I've picked up a few

20c seems like very strong support so downside would appear limited around 22c-23c but it has a long way to go to get back to its $1+ days

 

[j4mesa]

as a techie, I would not do anything yet to this share.....
it's a head and shoulder pattern
also it is a counter elliot wave 5.....at the moment.....

 

[panikhide]

I still think the bottom is in.

Perhaps the selling was the last of the Opies stock to be distributed.

Has held up ok since that buyer unloaded.

Bloody hope so!

Kennas

Why do you think this is at bottom? Are you maybe willing a bottom because you are trying to regain previous losses made on this stock? I can't see anything on the chart that would suggest the sellers have anything but control at the moment.

Having said that - maybe I will try to buy in at 0.20 if it looks like that will find support.

 

[Sean K]

Kennas

Why do you think this is at bottom? Are you maybe willing a bottom because you are trying to regain previous losses made on this stock? I can't see anything on the chart that would suggest the sellers have anything but control at the moment.

Having said that - maybe I will try to buy in at 0.20 if it looks like that will find support.

I hope not willing a bottom. Around 20 is very long term support. Normally I would wait for the downtrend to break. ie, see some higher lows and highs and breaking downtrendline resistance, and maybe key horizontal resistance, but the fundamentals are compelling enough to warrant a stab at near bottom for me. Two significant JORCs to be expanded. It should be rated higher IMO, but I think is under an large amount of negative sentiment that will eventually be broken. I sold out at .40 ish on the way down, and am back in for just a few at .23. I'm taking a punt on a higher probability that it will turn around, than collapse. And perhaps my hand will get bloody, but willing to take a punt at this stage.

 

[refined silver]

Kennas I reckon buying KMN at current levels seems like a no brainer,

I've picked up a few

20c seems like very strong support so downside would appear limited around 22c-23c but it has a long way to go to get back to its $1+ days

I agree - a no brainer buy at these levels on fundamentals. Problem is there a few other no brainers out there, and I don't have funds for them all.

 

[panikhide]

Someone just dumped a few shares. There were purchasers who got in at 0.20. Now there are very few buyers left. Is this really the bottom I wonder?

 

[Sean K]

Someone just dumped a few shares. There were purchasers who got in at 0.20. Now there are very few buyers left. Is this really the bottom I wonder?

4 year chart says yes, but they sometimes don't tell the real tale. Like the BDG chart a while ago. eeeek!

The difference is that this company has a long term au/cu/ag deposit in Mexico which has gone through multiple FS for development, and is not dependent on undergaround mining techiques and bonanza intersections. It's low strip, regular grade ore sitting inside a hill, waiting for a spade or two. It will be mined. Give me another au/ag/cu mining company developing at this au equiv to mc level. There are none. Well, maybe CTO.

I would discount Kalman right now, they spoke crap there, and continue to.

How does 1000m x 90m x 500m x 2.5d = anything less than 112,500,00Mt??

Or, maybe....wooooof!!!

 

[panikhide]

Someone just dumped a few shares. There were purchasers who got in at 0.20. Now there are very few buyers left. Is this really the bottom I wonder?

Or then again, maybe not. The buyers have come back in. Maybe 0.20 will form some resistance. What this company needs is a positive announcement.

 

[Sean K]

Or then again, maybe not. The buyers have come back in. Maybe 0.20 will form some resistance. What this company needs is a positive announcement.

The problem with this company is that they produce great anns (except for recent grades at SA) and then have failed to follow through.

It's like they have just sat back on their BSG success and not really put in any effort here.

Really.

It's making me wonder what they do on a day to day basis.

Perhaps the BSG thing has pre occupied them?

I am now couting on the BSG finalisation, and Norm sorting out his really ordinally investment decisions, and strong holders taking over stock for this to go anywhere. We really need some long term investors to now take up a decent placement.

Come to think of that, please, someone with the time and effort, please, come in and take a decent stake in this lame dog and turn them around.

They have the assets for someone with some motivation to make a decent turnaround.

 

[Sean K]

This company has an MC of about $90m and have about 70% of a major Cu/Au/Ag project in Mexico: open pit hill, low strip ratio, great infrastructure, well financed, ready to rock:

Cerro del Gallo Mineral Resource Update

The Directors are pleased to announce an updated mineral resource estimate, including a significant increase in tonnes and contained metal for the Cerro del Gallo copper-gold-silver deposit at San Antón, Guanajuato State,
central Mexico. The updated mineral resource estimate now contains 654 thousand tonnes of copper, 4.5 million ounces of gold, and 202 million ounces of silver.

Highlights
• 44% increase in overall tonnes to 627 Mt
• 25% increase in overall contained metal to 654 kt Cu, 4.5 Moz Au, and 202 Moz Ag
• 43% increase in the Measured and Indicated Mineral Resource tonnes
• 74% of the total tonnes and 81% of the contained metal classified as Measured and Indicated

I'm a bit busy right now, but will do the numbers on what an IGV of 654 kt Cu, 4.5 Moz Au, and 202 Moz Ag is in a little bit.

Then they have a Mo, Cu, Au, Re, U project developing in QLD.

 

[YOUNG_TRADER]

woof woof is the comments I'd say on this one Kenna,

I bought thinking it had bottomed only to see it fall through 20c support to hit 17c, however saying that it did rebound back above 20c,

I think the company has no doubt lost alot of credibility and shareholders look like they just want out,


anyone got a band aid for my hand? I tried to cacth a falling knife for a trade :

 

[Max_ob]

YT. . .


I take no joy from this trade not being a winner for you (yet) . . . however it indicates to me that you are still like one of us mortals. . . .(of course, that is until KMN takes off into outerspace)

 

[Sean K]

Yep, one sick puppy from it's highs around $1.00. There was a lot of expectation on Kalman around that time and they produced something well under the bar. I still can't work out how 1000m strike x 500m depth x 90m ave width, x 2.5 density gets anything under 112 M tns. The company obviously hasn't used their advertised dimensions for that initial JORC. Anyway, it's still open so I assume will be upgraded and the Re will be included in the next JORC.

San Anton IGV to be looked at. The initial scoping study made it look economical, but not sure why they progressed to another one. Musn't have done enough metalurgical test work in the previous one (if any?). Will be interesting to see how SNN goes on the TSX, it's been smashed the past year.

Anyway, I've caught the knife, no damage yet. Have 000 in the phone on speed dial though.