KBL MINING LIMITED - gold and silver producer

[SCHUMACHER]

KBL - time for KBL to be in the spotlight as its flying under the radar and poised to run back up on the back of GOLD prices on the rise - traded over 70 million today $600 oz /gold cost :)
iMO -

Great presentation :

http://www.aspectfinancial.com.au/docserver/01729577.pdf?fileid=01729577&datedir=20160408&edt=MjAxNi0wOC0wMysxODowODowMysxMjArNjEyMDg3ODIrZX RyYWRleG1sK3JlZGlyZWN0Ky9pbWFnZXNpZ25hbC9lcnJvcnBh Z2VzL0V0cmFkZVBERlRpbWVvdXQuaHRtbCsvaW1hZ2VzaWduYW wvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true

http://www.aspectfinancial.com.au/docserver/01761577.pdf?fileid=01761577&datedir=20160728&edt=MjAxNi0wOC0wMysxNzo1NzozMSsxMjArNjEyMDg3ODIrZX RyYWRleG1sK3JlZGlyZWN0Ky9pbWFnZXNpZ25hbC9lcnJvcnBh Z2VzL0V0cmFkZVBERlRpbWVvdXQuaHRtbCsvaW1hZ2VzaWduYW wvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true


Mineral Hill - Transformed to Gold and Silver Producer

Gold and Silver Production
 6,441oz of Gold and 76,028oz of Silver produced for the quarter, of which 5,682oz
of Gold was produced in the months of April and May. Only 756oz of Gold was
produced in June due to a major rain event in early June that caused cracking in
the Pearse open cut haul road. It was announced on 13 July 2016 that the remedial
work to the haul road had been completed and access to the Pearse ore had been
re-established

 Bullion production of 1,338oz Au shipped from the CIL circuit was an improvement
following commissioning in the March 2016 quarter
 The substantial rainfall in June resulted in interruption to the supply of open cut
ore to the processing plant. In the interim lower grade stockpile material was
directed to the plant. High grade sulphide ore supply from the pit recommenced in
the third week of July

 Pearse open pit produced and delivered approximately 40,000 tonnes of ore to the
plant and stockpiles for the Quarter. The open pit ore averaged 5.46 g/t Au and
89.77 g/t Ag

 Commissioning of the tails return circuit was completed within the quarter. Gold
bearing tails are now fed directly to the CIL circuit

 Unit cost of production for the quarter was $1,299/oz Au (including Ag credits and
streaming costs). This is an increase of 18% from the March quarter (reported at
$1,097/oz). The increase in production costs are a direct result of the cracking in
the Pearse haul road in early June which has now been rectified. The unit cost of
production for the months of April and May averaged $909/oz Au (including Ag
credits and streaming costs), this is a decrease of 17% from the March quarter
Building to growth

 A maiden Ore Reserve for the Pearse North deposit was announced, with
community and regulatory consultation well underway towards mining approvals
 An internal strategic review was completed, with mining options beyond the
current Pearse Pit targeting A-Lode underground and the Pearse North pit
 Damian Spring was announced as the new Chief Operating Officer based on site
P a g e | 2

MANAGING DIRECTOR’S OVERVIEW
KBL Mining has continued as a precious metal producer with another three shipments of gold concentrate
delivered to overseas customers, and a record amount of bullion produced from the now fully operational CIL plant.

The first two months of the June quarter represented a period of solid production and an improvement on the
previous quarter. However, extreme weather conditions from the beginning of June (the same event that
battered the NSW east coast) resulted in the interruption of ore supply from the open pit to the mill while safe
and permanent pit access was re-established.

Access is now completed and high grade sulphide ore supply to the mill recommenced in the third week of July.
During the quarter the Company released a maiden ore reserve for Pearse North located approximately 400m
north of the Pearse open cut. An open pit mine design has been completed and approvals well advanced.


KBL have a huge JORC silver/lead deposit in Sorby Hills,
They have GOLD project at Mineral Hills in NSW

GLTA

[SCHUMACHER]

Heres yesterdays research report on KBL from nextminingboom

Low cost gold production of US$616/oz.
A key value driver for KBL is its low cost gold production of US$616 /oz. (average C1 cash cost), well buffered from the current US$1,335 p/oz. spot price.

Having an open pit mine and being close to its 100% owned Mineral Hill processing plant ensures costs are kept to a minimum compared to miners that have to dig deep underground and process the ore through a third party.

With key infrastructure in place, KBL aims to maintain its low cost approach through targeted exploration of deposits that are near surface and infrastructure.

http://www.nextminingboom.com/gold-hits-new-high-asx-gold-producer-mounts-turn-around-story/?utm_campaign=KBL-MA&utm_source=HC&utm_medium=display&utm_content=splash

[SCHUMACHER]

LATEST PRESENTATION
Disclaimer: i picked up 2.5 million shares today - PLEASE D.Y.O.R

http://www.proactiveinvestors.com.au...s_may_2016.pdf

[SCHUMACHER]

Another reason why KBL (gold producr) is a great opportunity .....read on .......THE SORBY HILLS PROJECT

• 75% ownership
• Largest undeveloped near surface silver-lead-zinc resource in Australia, located 50km north of Kununurra, WA
• Global Resource
• 16.5Mt at 4.7% Pb& 53g/t Ag
• Substantial footprint in an emerging mining district
• Opportunity to develop Resource base for multi-decade operation
• Resources extend over 10km strike
• Stage 1 accounts for 1.5km of this
trend
• Environmental approval received
24
KBL TURNAROUND STATUS

They also have a processing plant 100% owned by KBL so they can process other companies ORE which is a bonus - (processing plant - $30 million spend on it )

Please DYOR - I have :D

[SCHUMACHER]

Q&A with Daryl Midgley, Chief Financial Officer at KBL Mining

Published on: Aug 2, 2016 | by finfeed

Following several key changes within its ranks and tweaks to current operations, KBL Mining is keen to make progress in a commodity market niche that has suddenly reawakened after several years of downbeat prices. KBL has shifted its focus from underground base metals production to open-cut gold and silver production at possibly just the right time. Finfeed spoke to KBL’s CFO Daryl Midgely, to give our readers the scoop behind this junior explorer that’s already in production.
Remember that KBL is a small mining company subject to market fluctuations and all the risks that come with that. Seek professional financial advice if considering KBL for your portfolio.
[​IMG]
Mr. Midgley joined KBL in 2012 as Financial Controller and is now the Company’s Chief Financial Officer. He brings 19 years of accounting and audit experience with the last 10 years being focussed in mining. Mr. Midgley played a key role in the refinancing of the company which concluded with the Quintana deal in March 2015. This enabled the company to restructure the balance sheet, build the CIL gold plant and develop the Pearse open-cut deposit.

Finfeed: Welcome to Finfeed Daryl and thank you for joining us today.

Daryl Midgley (DM): Thanks for having me.

Finfeed: Let’s get straight to the nitty-gritty — investors as well as analysts are keen to know just how prospective Pearse really is, what’s your take?

DM: We’ve published a series of market updates recently regarding the latest news at Pearse. In summary, what I can say is that we are delighted to see the Mineral Hill process plant return to pre-interruption levels. This now puts us [KBL] in a great position to significantly raise our cash-flow thereby reducing our financial commitments with respect to Quintana. We have turned the company around over the past 12 months and we’re very optimistic about the coming year.

Finfeed: KBL announced a maiden ore reserve at Pearse North, and you are currently conducting an exploration programme at Pearse South — which prospect would you say is a priority?

DM: As you’ve just said, we have two prime areas of focus, but there is also a background asset in the form of Sorby Hills in WA. We expect to finalise a capital raising to the tune of $6 million, and the majority of these funds are to be deployed proving up more resources across Mineral Hill and Pearse. We have identified good gold/silver mineralisation in the south and have just published a JORC compliant 179,000t @ 2.5g/t in the north.

Finfeed: What are your immediate milestones?

DM: Our intention is to move more resources into the Inferred category via exploration drilling, but also, we are quietly confident that we can successfully explore the region between Pearse North and Pearse South deposits, given the As-Sb-Au geochemistry anomaly stretching very synchronistically from north to south. We will of course update the market as soon as we know more.

Finfeed: Are there any other titbits of information that KBL shareholders can get excited about?

DM: As I was saying, the turnaround that we have now completed at KBL, makes this a very exciting time for us. We have effectively moved from base metals to precious metals as our core focus, so hopefully, the historically high gold prices in Australian dollars will continue to provide a strong operational background for us. Moreover, we have also taken the reigns at our new gold processing plant at Mineral Hill which was completed only in January. This additional infrastructure could potentially put us in a strong regional position by allowing us to process ore from other miners.

Finfeed: What about the financial state of KBL? What’s the story with funding?

DM: This aspect is key for all mining companies and we are no different. We are extremely confident that our upcoming $6 million capital raise will go through without any hitches and we’re also moving in the right direction in terms of reducing our debt financing exposure with Quintana. Bottom line, the Pearse deposits and the return to full-scale production, are two factors that clean up our balance sheet and puts us on track to raise our valuation in this new financial year.

Finfeed: Gold and precious metals in general have been grabbing headlines and analysts’ attention in recent weeks, do you think the broad improvement in gold/silver pricing will translate into a higher valuation for KBL?

DM: That’s a bit of a loaded question, but I will do my best to answer it (chuckles). Of course it’s always great to see your chosen commodity go up in price, but we are not overly concerned with spot gold prices.
The KBL Board has put together a strategy whereby we have changed tact to focus upon gold and silver, but we also have other assets in the background that we could potentially turn to at a later date, if needed. I see KBL as a nimble and flexible junior mining company that can adapt to change, and that is what we’re currently doing.

Spot gold prices can do many things, but it will be our exploration and our results that do the talking in terms of how we are valued.

Finfeed: Thank you for your time Daryl, and for answering our questions

[SCHUMACHER]

Aside from their gold, Here is KBLs 4+ million ounces Silver project which is Australia's largest undeveloped high grade close to surface, silver resource deposit :D
16.7 million tonnes silver over a strike length of 10km's - stage 1 development yields a 10 year mining life which is only about 10% of the deposit-

Chinas largest silver and lead smelting group are in partnership with KBL. KBL hold 75% of this silver project and their partner 25%

Anyway click on the link below and it will tell you all about this MASSIVE DEPOSIT - enjoy - think ill buy more KBL today

https://youtu.be/uJursMzqqfg

[SCHUMACHER]

8202

Im walking on KBL- Its going to be a fantastic day LOL


https://youtu.be/uJursMzqqfg

[SCHUMACHER]

Wonder if anyone saw the rediculous antics pre open - trading algorithims and orders altered in fractions of seconds- boy how the ASX has become a casino - anyway good to see it open up and buyers building :)


GLTA should be good once we clear the sellers out and she runs- BUYERS NOW BUILDING SUBSTANCIALLY and wont be long before sellers gone at.07

Heres a good read - on KBL

http://www.nextminingboom.com/gold-hits-new-high-asx-gold-producer-mounts-turn-around-story/?utm_campaign=KBL-MA&utm_source=HC&utm_medium=display&utm_content=splash

[JBmurc]

Do like the look of KBL at current market value ,,,,might grab a small parcel of the opts

[blockhead]

How big is "a small parcel" JB ?

[SCHUMACHER]

How big is "a small parcel" JB ?


BH- I think JB bought either 3 million or 1.969 million - options which were the trade parcels at time of his posting :D

Hes right about one thing - KBL's silver is worth $$$$$$$$$$$$$$ and ts low to surface open cut - cheap to extract

[JBmurc]

How big is "a small parcel" JB ?

the smaller 1.9mill trade ....think it cost me 5.9k AUD ....only just dipping the toe in as to why I brought the opts for extra leverage ..

If all goes to plan and MKO - NKP reach sell targets then I might well buy another 5-6mill KBLO

[SCHUMACHER]

the smaller 1.9mill trade ....think it cost me 5.9k AUD ....only just dipping the toe in as to why I brought the opts for extra leverage ..

If all goes to plan and MKO - NKP reach sell targets then I might well buy another 5-6mill KBLO


So without giving anything away - whats your sell target for NKP 30c ?? lol
had to ask- (JB no reply necessary- i dont really want to know )

Interesting looking at the sells of KBL seems like CHI-X getting filled on the sells before ASX sellers who are in front of the CHI-X in the cue- but guess if the CHI-X players are the only ones exchanging blows then buying and selling on this platform then ASX- buys and sells are not playing :)

[SCHUMACHER]

And finally after 2 hours someone bought million share from the ASX platform LOL

CHI-X doing all the work

[SCHUMACHER]

All these global FED rate cuts certainly going to help gold and silver - GOLD up again overnight - spot gold up 1% of the back of the British pound rate cut lol - we will be at zero soon and paper money will be the casualty here- hang on , its already worthless lol

check out the book "Prosper" by Chris Martenson - great read

The world resources are at their limits and we will struggle to grow because of these constraints
The world has 200 TRILLION debt
LIABILITIES AT 5 X THE DEBT

AND a world that will struggle to grow

next 20 years will be unprecedented and we cant look back at the past 20 years to see whats going to happen as we in uncharted territory now


Larger view we will see a great wealth transfer and its going to happen - it happened in Germany many years ago , more recently in Argentina and what happens is we have too many claims built up, its money and credit and theres not enough stuff and people call it great wealth destruction but its not , its transfer, its transferred from people who have too much paper wealth to people who own the real thing or have physical wealth

we now seeing stocks hitting all time highs and bonds hitting all time highs - this is a crazy situation that can only be made sense of when we look at what central banks have done to liquify and print money so people should be looking to real tangible wealth not paper wealth

HOLD
Realestate
Gold / Silver
Cash



KBL has had 140 million shares traded over past 2 days so what next ? -

[SCHUMACHER]

i May have to put in a buy order at .05 JB?
Still sitting quiet - capital raising at .055 so should move up through .06/.07 at some point soon - patience required and our eye on that MASSIVE 4.1 MILLION OUNCES undeveloped SILVER ASSET ...mmm :)

[SCHUMACHER]

For those interested in latest results - id say they doing very well and worth more than current shareprice IMO :)
Strong EBITDA suggests they turned a corner and back in PROFIT :D -GLTA

Record Gold and Silver Production at Mineral Hill $4.9M Profit Turnaround
 9,209oz of Gold and 111,826oz of Silver produced for the quarter o Gold production – 79% increase from last quarter o Silver production – 226% increase from last quarter
 Currently high grade sulphide ore from the Pearse open pit is being processed through the flotation and CIL circuits with average total gold and silver recoveries achieving 71.2% and 65.8% respectively
 Pearse open pit produced and delivered over 45,000 tonnes of ore to the plant and stockpiles. The open pit ore has averaged 6.64 g/t Au and 71.81 g/t Ag, which is above expectations  Commissioning of the second concentrate filter and CIL carbon regeneration kiln were both completed during the quarter, with increased plant unit throughputs realised in March 2016
 Unit cost of production for the quarter is $1,097/oz Au (including Ag credits). This is a decrease of 22% from the December quarter (reported at $1,399/oz). This is higher than planned as it includes certain non-recurring plant commissioning costs
 The Company’s EBITDA for the quarter was $2.8M. Net profit for the Company improved $4.9M with profit for the quarter of $0.8M compared to a loss in the previous quarter (December 2015) of $4.1M
 Share issue to creditors of $2.9M with a further decrease in trade creditors of $0.7M for a total decrease of $3.6M, current balance is $13.9M down from $17.5M at the end of December
 The cash balance is managed so as to reduce creditors as much as possible. At the end of the quarter it was $0.84M, up from $0.02M at the end of December

[mcdongle]

Keeping my eye on this one. Bit nervous re. debt.
see if they can pay it down fairly quickly.

[SCHUMACHER]

Fair enough Mc D - In my mind they will have a bumper September Q with July already ahead
However if your risk averse then i dont recommend this - the reward can be high so if you are contemplating, i wouldnt recommend more than 5% of your working capital to protect yourself but if your a Warren buffet type - all eggs in one basket payed off for him in a risky investment when he was 50 so its possible if you have balls of steel :)
Note: if this does turn around its going to be some HUGE profits for us punters !! but i have faith in Greg Starr and he has done a tremendous job to date - We all love a success story

IMO the thing is losers will feel the fear and sell and winners will have an appetite for a calculated risk - and im prepared to risk 5% of my cash to find out - i feel more comfortable now than i did 3 months ago as they producing at increased output rates and HIGHER GRADES meaning higher bucks $$- GLTU


Revenue Generation Recommences
Mineral Hill returns to gold-silver concentrate production with 650 tonnes of 60 g/t gold concentrate produced
in July following restart of the flotation treatment of the high grade Pearse open cut ore
in mid-July
Two batches for a total of 370 tonnes of 60 g/t Au concentrate dispatched from site to rail head for export

Mining of high grade sulphide ore continues from the pit for processing in line with recovery plans
Bullion production
for July exceeding forecast with gold derived from the CIL treatment of float plant tails and the return of stored gold tailings
KBL Mining Limited (ASX: “KBL” or “the Company”) is pleased to announce the Pearse production schedule has resumed with the Mineral Hill processing plant returning to gold-silver concentrate production at pre-interruption rates by the final week of July.
The return to Pearse ore has enabled recommencement of the flotation processing plant and production of gold
-silver concentrate in addition to bullion.
More than 650 tonnes of concentrate were produced for sale by the end of July with 370 tonnes containerised and at the rail head, with the balance at site waiting shipment.
Plant throughputs are increasing toward a steady state of 35-40 tonnes per hourand costs have continued to stabilise with the new permanent ramp to the base of the pit in operation.
Continued production from the Pearse Open Pit is expected to deliver some 7,500 ouncesof gold and100kounces of silver during the September quarter with 5,500 ounces of the gold derivedfrom concentrate and 2,000 ounces of gold in bullion from the CIL plant
.
KBL’s Managing Director, Greg Starr commented:“Despite the June quarter being below forecastdue to the majorinterruption to the Pearse open cut production caused by a severe weather event, results for April and May were encouraging and indicative of the processing capability. As the plant is returned to nameplate capacity we expect a continuance of strong production targeting some 7,500ounces gold production over the current quarter”
.

[SCHUMACHER]

My gut tells me this will go up next week - we have had 3 days with 200 million traded mostly at .055 and .06c which is probably due to the recent placement for working capital at .055 so that will be complete now - and i bet my bottom dollar it will rise next week and those selling below will wonder what happened lol :)

Held well after 3b appendix notice so should resume normal transmission and head back up Monday next week with no notices like the one released yesterday lol so we've given management the green light to raise funds - thats done so lets get this thing back to .01c FFS LOL
You have to feel sorry for those panic merchants selling at .05 Today and not knowing why or what was going on

Working capital now in the bank and now our boutique fund manager L1 Capital
http://www.l1capital.com.au/ is off the register - now we have cash to go forward - will head up next week

GLTA have a great weekend

[SCHUMACHER]

Looks like KBL (gold producer) is going to burst at the seams , buyers building big time - could wipe out the sellers at this rate- as always time will tell

Maybe this is why >>......

Next in line – Pearse North :)

Pearse North is the one that could take KBL to new heights.

Located just 200m northwest of the already operating Pearse open pit mine, Pearse North has an estimated Ore Reserve of 203kt at 2.1g/t gold and 21.1g/t silver.

The style of deposit is similar to the Pearse mine and is near surface, allowing KBL to apply knowledge gained from the current mine to this next project at Pearse North. Pearse North has a higher percentage of oxide ore than Pearse which only requires processing through the CIL plant and is therefore cheaper to treat.

With a mining lease lodged, KBL plans to develop the Pearse North site into a shallow open cut gold mine.

The approach is in line with KBL’s strategy to target low cost deposits that require little investment and offer faster returns for the company and its shareholders.

16 drill holes were completed at the Pearse North deposit earlier this year…

[SCHUMACHER]

Excellent - Pearse North – Regulatory Approvals Update- now we can go MINE out and expand that shallow GOLD in 2016/2017 :)

Announcement today !!
KBL Mining Limited (ASX: “KBL” or “the Company”) is pleased to announce completion and submission of the Statement of Environmental Effects for the Pearse North deposit. This document represents the final major work required to support regulatory approval for the commencement of mining at Pearse North.
Pearse North
The Pearse North deposit, approximately 200 metres northwest of the operating Pearse open cut gold mine, is a shear-hosted epithermal gold–silver deposit of the same style as Pearse. In June, the Company announced a maiden Ore Reserve Estimate for the deposit comprising 179kt at 2.5g/t gold and 21g/t silver (at a cut-off of 1g/t Au for Oxide & 1.5g/t for Transitional and Fresh)1.
Approvals Process
Marking the final submission on behalf of the Company, the Statement of Environmental Effects comprises a comprehensive review by industry experts as to the environmental implications and management strategies supporting mine planning at Pearse North. Positively, the document highlights significant benefits for the local community with continued employment of 50 personnel in addition to some 30 contract staff.
To date, the approvals process has progressed as planned and the Board remain optimistic that with provision of the final documentation, approvals for the Pearse North development will be received late 2016.
In consideration of market conditions, KBL are focussed on the exploitation of shallow, open pit gold opportunities with further resource definition drilling to occur in parallel with mining operations targeting a return to underground polymetallic production in the future.

[SCHUMACHER]

Another announcement out - Director buying mmm ... interesting :)

that should give market a bit of confidence - looks like he bought 6 million options

DYOR - This is not financial advice to buy , hold or sell KBL

[JBmurc]

Going need many more buying strength to get KBL moving in the right direction ...IMHO KBL really need to do a 10:1 share consolidation
trading under a cent creates such a gap between the Bids n offers ...just insane like the opts....the gap from .2c to .3c is some 50%

now if they 10:1 we could see trading in between the cent value 2.1c to 2.9c etc

then I think your have a much better spread of trading rather than the jump from cliff to cliff

[SCHUMACHER]

Going need many more buying strenght to get KBL moving in the right direction ...IMHO KBL really need to do a 10:1 share consolation
trading under a cent creates such a gap between the Bids n offers ...just insane like the opts....the gap from .2c to .3c is some 50%

now if they 10:1 we could see trading in between the cent value 2.1c to 2.9c etc

JB yes i think that would be good in say 12 months time but right now the management need to first add longevity to their existing resource by getting Pearce north mined out and maybe look to underground operation after the low hanging fruit is dealt to and then once they extend their mine life by up to 5 years and current operations, shareprice could go up as high as 500% on todays price , pay down some more debt and start to look at Sorby (4 MILLION OUNCES SILVER) funding - this is their crown jewel however if they can drill out and increase JORC compliant GOLD they may not need to consolidate - current market cap rediculous at 6 million as a gold producer however the market decides - i will probably have my trigger finger on a few million options as soon as .06c wall gets taken out on the heads

P.S I think if we patient here we can pull 100%+ gain in couple months time - im still in the camp that KBL is a turnaround story - they still employ 40-50 people and if gold continues its path upward, which i believe it will due to everyone money printing (currently JAPAN AND UK) :)

People reading this please be advised this is a high risk high reward company attempting to turn around their fortunes and they have recently done some capital raising at .055c (oversubscribed) and have new management and approx 50 staff and they have some nice assets and are currently operating as a GOLD producer - if you like a bit of risk in your portfolio then first do your homework and or read all the nfo ive posted so you get a better understanding of whats happening - and if you like its potential reward then do what ive done and make an executive decision to buy a few :D

P.P.S Read the article below to give youselves an accurate assessment of whats happening

http://www.nextminingboom.com/gold-hits-new-high-asx-gold-producer-mounts-turn-around-story/?utm_campaign=KBL-MA&utm_source=HC&utm_medium=display&utm_content=splash

[SCHUMACHER]

One of the other things I favour about KBL is that their Sorby silver project is literally "ready to go" with all necessary mining appprovals in place and all they need to do is make decision to mine and we have locked in at least 30+ years of silver mining ( 10 years of stage 1 mining would only use 27% of resource) with 4 million ounces of Ag sitting there at shallow depth - unbelievable !

here is youtube video on Sorby Hills

https://www.youtube.com/watch?v=uJursMzqqfg&feature=youtu.be


Silver is also in big demand with healthcare, solar, electronics and many other industries

i wil definately be buying a few more at these prices

[JBmurc]

One of the other things I favour about KBL is that their Sorby silver project is literally "ready to go" with all necessary mining appprovals in place and all they need to do is make decision to mine and we have locked in at least 30+ years of silver mining ( 10 years of stage 1 mining would only use 27% of resource) with 4 million ounces of Ag sitting there at shallow depth - unbelievable !

here is youtube video on Sorby Hills

https://www.youtube.com/watch?v=uJursMzqqfg&feature=youtu.be


Silver is also in big demand with healthcare, solar, electronics and many other industries

i wil definately be buying a few more at these prices

Yes Sorby "LEAD" silver project ....stage 1 will see 20,000t of lead and 24t of silver produced p.a...= 46mill gross for the Lead 16.1mill for the silver ...guessing zinc would be around 5,000t pure guess off grading so extra 13-14mill

Now I believe AUD Silver will have one of it's best bull runs over the next couple of years $50+ and that's why I brought a few ...as I could see Sorby project grossing 90mill p.a thats 67.5mill net to KBL p.a ....add in mineral hill .....I could see KBL making a EBIT 50mill+ ....still many hurdles to cross ...but yes muti-bagger in the making if all goes to plan

[SCHUMACHER]

Yes Sorby "LEAD" silver project ....stage 1 will see 20,000t of lead and 24t of silver produced p.a...= 46mill gross for the Lead 16.1mill for the silver ...guessing zinc would be around 5,000t pure guess off grading so extra 13-14mill

Now I believe AUD Silver will have one of it's best bull runs over the next couple of years $50+ and that's why I brought a few ...as I could see Sorby project grossing 90mill p.a thats 67.5mill net to KBL p.a ....add in mineral hill .....I could see KBL making a EBIT 50mill+ ....still many hurdles to cross ...but yes muti-bagger in the making if all goes to plan


JB Well said mate and yes some good numbers there if we can crank things up - begs the question who will fund the Sorby project - its going to take between 12-18 months to start production on Sorby if we flicked the switch today. perhaps that Chinese partner will fund it now that Silver on the rise OR they could farm out 15% of their 75% for cash for start up- im sure there are a few experts out there now thinking about Sorby and how they can get their hands on it so i doubt if a lack of interest to commence road to production would be a problem when silver hits $30


KBL Gold projects
Now to support an increase in the longevity of our production profile, this from one of the reports

"The quarterly activity report ending 31st March 2016 saw record gold and silver production at Mineral Hill with a $4.9 million profit turnaround,

In order to grow the production profile at Mineral Hill, KBL will be looking to extract gold from new parts of the project.

Other targets at Mineral Hill include Jacks Hut – a copper-gold exploration target of 500-550 kt, for which drilling is expected to be completed in the next 6 months, and the A, B, G and H Lode’s located 500m south east of the Mineral Hill processing plant.

The A, B, G and H Lodes will have further drilling carried out following the capital raising to determine the mine plan going forward."

[SCHUMACHER]

JB- check this out - released today by proactive investors .. looks good :)

http://www.proactiveinvestors.com.au/companies/news/70327/kbl-mining-ltd-completes-milestone-to-expand-gold-mining-at-pearse-north-70327.html


Return to production

KBL recently returned to gold-silver concentrate production at Mineral Hill in New South Wales, with 650 tonnes of 60 g/t gold concentrate produced in July.

This follows the restart of the flotation treatment of the high grade Pearse open cut ore in mid-July.

Plant throughputs are increasing toward a steady state of 35-40 tonnes per hour and costs have continued to stabilise with the new permanent ramp to the base of the pit in operation.

Continued production from the Pearse Open Pit is expected to deliver 7,500 ounces of gold and 100,000 ounces of silver during the September quarter.

The gold breakdown will be 5,500 ounces of the gold derived from concentrate and 2,000 ounces of gold in bullion from the CIL plant.


Drilling pending

KBL has final preparations underway for focussed exploration in the highly prospective Pearse corridor, initially through shallow rotary air blast drilling.

Drilling is expected to commence in late August.

The Pearse corridor contains an arsenic–stibnite–gold in soil anomaly which coincides with an area of outcrop in the Pearse North area.


Analysis

KBL’s production profile will be significantly increased by the added operation of Pearse North.

The economics of Mineral Hill are supported by strong precious metals prices – gold is currently trading at A$1,745 per ounce and silver at A$25 per ounce.

[SCHUMACHER]

Perfect Storm Brewing For Gold's Multi-Year Bull Market - Diego Parrilla

http://www.kitco.com/news/2016-08-09/Perfect-Storm-Brewing-For-Gold-s-Multi-Year-Bull-Market-Diego-Parrilla.html

[JBmurc]

Market certainly isn't loving KBL of late ....hindsight should have gone with my first pick IRC ....still early days ,,,but need some major Buyers to soak up all this selling pressure

[SCHUMACHER]

Market certainly isn't loving KBL of late ....hindsight should have gone with my first pick IRC ....still early days ,,,but need some major Buyers to soak up all this selling pressure

JB
Guess it depends if your a short term trader or longer view IRC also down

i bought a few options in KBL today at .02 as they cheaper and great leverage longer term if they get things going and do something with Sorby hills then we laughing - - key is they are producers and they paying down debt which in theory should turnaround the company fortunes. SPOT Gold up to $1348 now :) - also dosent take much to take out 30 million shares when they at .05c :)

VML drilling for GOLD in highly prospective belt - check out my other thread

anyway - shareprice gyrations gyrations are all part of the game

DISCLAIMER: People reading this please be advised this is a high risk high reward company attempting to turn around their fortunes and they have recently done some capital raising at .055c (oversubscribed) and have new management
KBL is currently operating as a GOLD/silver producer but with previous debt on the balance sheet which they have made a big dent in since beginning of the year - if you like a bit of risk in your portfolio then first do your homework and or read all the info ive posted so you get a better understanding of whats happening.

[JBmurc]

Yes and now there is 50mill+ opts up for sale for .2c ....darn it could have saved myself 2k if i had just wanted a couple of days ....
yes longer term if KBL are still trading I think the SP will be higher as Gold/Silver will certainly be much higher than today IMHO

[JBmurc]

50mill KBLO dumped .001 ......bottom draw they go .....maybe this time next year

[SCHUMACHER]

50mill KBLO dumped .001 ......bottom draw they go .....maybe this time next year

Yes JB
this stock always going to be high risk so key not to get too over exposed IMO - their silver "SORBY HILLS" is the crown jewell IMO but they need funding from a farm in or current JV partner - as price of silver climbs ( i hope) it becomes a more interesting INVESTMENT proposition

I think KBL will come right, but no guarantees and short term still need to get debt down - thats why oppies worth the risk (cheaper on our pockets and better leverage if it runs) as they dont expire till 2018 - a lot can happen between now and then :)
Patience required on this one as there is a lot at stake for the company - ive highlighted and recommended to other readers that THIS IS A RISKY PLAY today but may not be in 3-6 months - i hold about 2% of my working capital in this company so i only stand to lose a small amount if it goes pear shaped -

So in saying all this readers if you like a bit of high risk in your portfolio then you might like this one otherwise stay away as you may get burnt - i like the thought of the company taking on their debt and clearing it by year end 2016 which is wha they said their goals are - this is depending on their silver / gold production figures at Mineral Hill for September and December quarter with no more shutdowns/ breakdowns and the like -

THE MARKET IS WATCHING just in case they can turn their fortunes around - One thing is for sure they working very hard to do this - just a shame that shareholders given management approval to raise capital anytime like we saw the other day with that share issue for 89 million shares but they need the money while the stars line up for them LOL


P.S its better odds than you have at the casino by a country mile :)

And JB now that you and I have well over a million shares we can say that we are (multi-millionshares) LOL
Bit of Friday Humour

[penn]

50mill KBLO dumped .001 ......bottom draw they go .....maybe this time next year
Looks like I have joined you.
I was person 37 in the queue for the ops at .oo1 could not believe my eyes when I saw I had got them!
They can go in a bottom draw until 2018.
Hope I don't get to see the head shares at .001.

[penn]

wOO hOO! i JUST DOUBLED MY MONEY in half an hour! (well ops traded at .002)
nOT double till I sell, but I'm in for the ride.

[SCHUMACHER]

Your better off buying the heads as you could still get out if it falls more - not much left once you get past .01 Haha options much higher risk than heads - even im not brave enough to buy them when heads now at .04 LOL
Like i said this is a casino moment where you lose it all or make alot so minimise your exposure unless you have a gambling addiction LOL
:)

[SCHUMACHER]

Ok - heres my take on things - ill keep it really simple

1) If they can clear their 6 million debt out before end of this year ( this is what management said they would try to achieve ) through gold production then we will be ok iMO - if we have any other issues like not getting Mineral hill (15,000 ounces ) up and running when we run out of gold from current pit they will need to capital raise to bridge the gap and dilute shareholders more which they currently have the power to do based on shareholders approving this so that we can continue to operate while we dig ourselves out of a hole -

2) They need to get MINERAL HILL PROJECT UP AND RUNNING FAST and increase reserve measured and indicated - and get it mined ASAP !!!!

3) if they can do this it could become one of the great turnaround stories which is why i have only 2% exposure to KBL as i think they may be able to do it - my only concern would be the liabilities that we currently have outside of the short term debt and how that will play out however first things first, we need to have smooth sailing with current gold production and high recoveries , high gold prices (higher if possible )

4) What about Sorby Hills (SILVER ) ???? how does this comes into the picture - if we can get silver back over $30 then this project will gain big interest and someone WILL WANT TO DEVELOP IT and im sure money will come - the other option is farm out some of it - one thing im not clear on is why havent the 25% JV partnership stepped in to fund it ??

Management are trying to turn this around and they are very focussed in doing that - this is new managements biggest test to date !!

5) Option holders - why did someone wipe out 100 +million options at .001 over past 2 days ?? why if there was confidence perhaps they got scared that they would have money trapped in options for a few months - maybe they were just wan&&% traders
If .004 heads get wiped out then KBLO Options will take a big hit and you wont be able to get out temporarily - if .004 does get wacked i wont know what to think as it really needs to hold to keep options in play- dont forget there was a heavy options placement recently at .001c for 200 million + from memory for CR

KBL, noose has become even tighter so we need to give ourselves some breathing space - Management its all up to you :)

[JBmurc]

Certainly glad I didn't put much into it ......if all goes to plan on my new property deal I might even get a few more @ .001 ...just for a pure gamble ....but first I'll load up on IRC , NKP , MKO

[skeet]

Another dump today driving the price down

[SCHUMACHER]

Another dump today driving the price down


yeah must have been the photo of the two guys holding up the block of gold that got a few jittery LOL

8224


KBL Mining Limited (ASX: “KBL” or “the Company”) is pleased to announce the production and shipment of the 60th Gold bar from the state of the art Mineral Hill CIL circuit; a significant milestone for the company having now delivered approximately 4,000 ounces gold and 8,600 ounces silver as bullion.
Additional to resumed production of high grade gold concentrate for export, the Mineral Hill CIL is capable of generating saleable bullion from the treatment of float tails, re-treatment of gold tails (as announced 23 May 2016) and treatment of oxide ores. This represents a significant broadening of the production profile, offering operational flexibility and reducing overall risk.
KBL’s Managing Director, Greg Starr commented: “The enhanced treatment flexibility of the Mineral Hill plant will allow the Company to maximise mill feed options while optimising processing for future ore sources. This adaptability is crucial for continued growth and sustained production while also highlighting amenability to toll treatment opportunities”.

[JBmurc]

Now no buyers for the opts ........arrghhhh

[SCHUMACHER]

Now no buyers for the opts ........arrghhhh


There you go 1.4 MIL on the bid :)

still perplexes me why they dont get the silver mine (sorby hills ) up and running

Dont know whats going on but ive just checked out Greg starrs record mmm

gREG'S notable Executive Appointments include Board roles with the following companies:

Dongfang Modern Agriculture Holding Group Limited 2015 - Present
KBL Mining Limited, 2013–Present
Crater Gold Mining Company Ltd, 2008–2015
Kenai Resources Limited, 2007–2013
Michelago Ltd, 2005–2007 - DELISTED !!!!
Emperor Mines Limited, 1997–2004 DELISTED !!!!!!!

As a experienced executive on the international stage, I am able to crystallise the long-term aspirations of companies by developing compelling business cases that can be used for promoting the organisation, raising debt and equity finance, justifying company mergers and acquisitions, or enabling strategic positioning necessary to meeting stated business goals.

A conceptual and solutions oriented corporate executive, my effectiveness is enhanced by my well rounded personality and business acumen, enabling me to communicate effectively with non-financial executives, presenting complex financial information in an easily assimilated form and negotiating outstanding commercial outcomes in a broad range of settings.


was always a punt - looks like note holders offloading / Flipside is that someone is buying these shares

[JBmurc]

http://www.nextminingboom.com/kbls-gold-production-exceeds-expectations/?utm_medium=email&utm_campaign=KBL-UA1&utm_content=KBL-UA1+CID_da93fe50ce3205251b9bdb03b082d1a2&utm_source=SD&utm_term=WOULD%20YOU%20LIKE%20TO%20KNOW%20MORE

[babymonster]

http://www.nextminingboom.com/kbls-gold-production-exceeds-expectations/?utm_medium=email&utm_campaign=KBL-UA1&utm_content=KBL-UA1+CID_da93fe50ce3205251b9bdb03b082d1a2&utm_source=SD&utm_term=WOULD%20YOU%20LIKE%20TO%20KNOW%20MORE
Pretty good for marketing purposes

[JBmurc]

Fairytale Ending for KBL
Saturday, June 6th, 2015


p050615

THE FAIRYTALE ENDING FOR KBL

Uncork a Bollinger and light up a Cohiba! Pierpont has a thrilling story this month about a small mining company driven to the edge of ruin by a rich foe before it won a famous victory and miraculously escaped.

You will tremble with fear as the dark clouds loom, sigh with relief when they vanish and may even (at a stretch) have your faith restored in the Australian legal system.

The small mining company is KBL Mining, chaired by Jim Wall, which produces copper in concentrate with gold and silver credits from Mineral Hill in central NSW. But, like every small company on the mining board, KBL did not have enough cash to develop the mine.

In 2011 it raised $11.2m from a convertible note issue and placement at 38c. That cash was to build a carbon-in-leach (CIL) circuit and additional flotation plant at Mineral Hill, together with a pre-strip of the Pearse gold-silver orebody, only a few hundred metres away.

But KBL kept passing the hat around. It borrowed a further $3m, made another convertible note issue for $10m in 2013 and received a $14.5m reimbursement of research and development costs. If you add all those numbers together, KBL had raised the impressive total of nearly $40m in less than three years and still didn't have a CIL plant. And Pearse still needed the overburden stripped.

The (highly unreliable) gossip at the Croesus Club is that KBL spent some $30m on development of the G Lode at Mineral Hill and drilling Pearse. But both those were gold-silver orebodies and KBL still didn't have a gold treatment plant.

The $3m that had been borrowed had to be repaid and there were quarterly interest payments on the $11.2m note issue, ripping out more cash.

Perhaps worst of all, KBL struck talc in its underground workings. Talc is splendid in your bathroom or on a baby's nappy, but in an orebody it's dreadful. The flotation plant which is supposed to attract the copper and gold to the bubbles will also attract the talc and it's the devil's own job to separate the talc from the rest. So mining becomes more expensive and recoveries fall. Even worse, in an underground mine, the slippery talc makes the overhead rock more prone to shearing, so mining has to be conducted carefully and at extra cost.

So Mineral Hill's copper grades and recovery slumped, just as the copper price was taking a dive too, falling from $US9,000 to $US6,000 a tonne.

Nothing loses money faster than a hungry mine. In FY12 and FY13, KBL's operating losses totalled nearly $10m and another $27m was spent on development and plant. By June 2013 KBL was down to $5m cash.

Meanwhile a white knight had ridden to the rescue. In March 2013 Capri Trading, run by Geoffey Kinghorn, agreed to invest $10m in a fresh issue of KBL convertible notes (which Pierpont mentioned earlier) and also picked up 9 percent of KBL in the shortfall of an issue. The notes had a two-year term, maturing on March 16, 2015, when they would be redeemed for $12.6m, representing a simple interest rate of 13 percent.

Capri was a private company run by Geoffrey, the son of John Kinghorn, who won Pierpont's undying admiration when he floated RAMS Homes Loans in 2007 and collected $650m as the main vendor. So a Kinghorn should have been a really shiny white knight. But alas! Share market white knights have a habit of turning black and Geoffrey wound up at least dark grey in the eyes of KBL.

Last year KBL foresaw that it might not be able to repay Capri's $10m when the notes matured in March, so they asked Geoffrey if they could extend the term of the notes to June. Geoffrey didn't want to, so KBL started hunting for an alternative white knight.

Guy Fawkes Day saw the fireworks start, because on November 5 last year, Capri assigned its shares and notes in KBL to RIKID511 Pty Ltd. Incidentally Geoffrey still had his hand on the throttle, even though RIKID was nominally a subsidiary of the listed Kidman Resources. Geoffrey was at all times a director of RIKID and for most of the relevant period he was the sole director. Justice Richard White of the NSW Supreme Court found: "From at least January 24 it appears that he (Geoffrey), and he only, would be the person whose mind would be the mind of RIKID".

Kidman held tenements next door to Mineral Hill, but how it could afford the notes and shares was a small mystery, because it was only holding some $1.6m cash. Kidman was active, though. It had approached Geoffrey to do the deal and as soon as he did, Kidman began soliciting KBL shareholders in an effort to sack KBL directors (starting with two who were up for re-election at the annual general meeting due on November 19) and to replace them with three Kidman nominees.

The KBL board's first response was to adjourn the agm until November 28, when KBL's directors managed to secure enough support (roughly 120m votes to 93m) to keep their jobs. Since then the parties have been fighting in the law courts and the Takeovers Panel, with Kidman and RIKID arguing that KBL had committed an act of default and should pay whopping interest on its notes and KBL denying everything while desperately trying to find another knight who was a bit whiter.

KBL was initially handicapped because it didn't know the terms of the deal between Capri and RIKID, which were not revealed until November 28. On March 16 of this year, Capri was due to redeem its KBL convertible notes for $12.6m paid by KBL. The Capri/Kidman agreement effectively provided that Kidman was not required to pay for the KBL convertible notes if Capri were repaid in full in March.

KBL detected a sinister aspect of the agreement. If KBL repaid Capri in full in March, the Capri/Kidman deal would be reversed and Kidman would gain nothing from it. But if KBL defaulted, Kidman could enforce security over, and take control of, KBL's assets. The Capri/Kidman agreement stated that if an event of default occurred, the holder of the notes could declare the money to be due and payable immediately and appoint a receiver.

KBL's premonition was correct. Kidman sent a letter on December 2 saying it believed KBL was insolvent and KBL spent the next five months trying to prise Kidman's jaws off its financial jugular. On December 8 Kidman issued an ASX release querying KBL's solvency. KBL responded that Kidman was trying to engineer an insolvency.

Between December 10 and March 5, RIKID served eight notices on KBL alleging that it had defaulted and was liable for RIKID's legal costs as well. All these notices must have been a dreadful distraction for KBL, because it was trying to woo another financier at the time.

The first notice said an event of default had occurred, and that representatives of business recovery accountants Nicols and Brien would arrive in KBL's office at 9 a.m. next morning to investigate its finances. KBL immediately demanded that RIKID should explain the grounds on which its allegation was based. Until that happened the investigators would never get through the front door (and they didn't).

Undaunted, RIKID kept bombarding KBL with notices alleging it was in default. KBL was in the position of a batsman receiving six bouncers an over, but rescue was at hand. In the nick of time, KBL managed to raise $US23m on March 9 under an agreement with Quintana Mineral Corporation (a rich private Texan company) and was able to repay the $12.6m loan to RIKID on March 16.

That left just one matter outstanding. On top of the default allegations, RIKID had been demanding $3.125m interest on the convertible notes plus legal costs. Its seventh notice included five invoices totalling $108,855.27, and after the eighth notice its solicitor estimated that the costs could run to $146,600.

All this went to Justice White, who brought down his finding on April 8. He dismissed the claim for extra interest, saying there was clear and convincing proof that no interest was to be payable on the $10m investment apart from the $2.6m.

His Honor was pretty critical of RIKID, saying: "I draw the clearly available inference that service of the repeated notices of events of default and service of statutory demands constituted an attempt to disrupt KBL's attempt to refinance...This as an abuse of the statutory procedures".

He noted that some $78,000 of RIKID's demands for costs were no longer being pressed. His Honor said: "Although not admitting as much expressly, by its conduct RIKID acknowledges that it had no right to demand the greater sum." In one case, where costs of geological services had been dropped, he said: "No explanation has been provided as to why the demand, if it was thought to be genuine, has been dropped, or if not thought to be genuine, why it was ever made in the first place".

He said that as RIKID had not been entitled to serve the notices of default, none of the charges for costs were justified. "In my view RIKID has been guilty of such improper conduct as disentitles it from requiring KBL to pay any of its costs of the proceedings...It did not act in good faith," he said.

At first glance it looks like a fairytale ending. KBL has avoided going into receivership and has found a new white knight. As Pierpont writes, KBL is finally pouring concrete for its CIL plant and scraping the overburden off the Pearse orebody.

Geoffrey must be happy because he's been paid his $12.6m. Kidman has reinvented itself by acquiring gold deposits around Coolgardie, where its managing director Martin Donohue says he's much happier.

The joy has begun spreading to the market. KBL shares dropped as low as 1.5c during the warfare with RIKID, but have since recovered to 4c. The 2011 convertible notes which were due to terminate next year have been pushed out to 2017, and since last July KBL has had a new managing director, Brian Wesson.

Brian is originally a South African, but he's worked on mines around the world and must have collected some good backing, because last year he considered taking over KBL before deciding to run it instead.

The streaming deal with Quintana requires KBL to sell 24 percent of its gold to them at 18 percent discount to market, indicating KBL needs to produce 100,000 ounces before Quintana is repaid. And it still needs a few million for working capital, so KB is not quite out of jail yet.

But otherwise, everyone is living happily ever after.

(ends)

[skeet]

old article?

[JBmurc]

Yes but some of us new guys that have only recently come across KBL ...good to know more of the history ...and bad blood towards the company ...much day shorting of late (I know hard to believe with a micro cap would have to be near 100% margin)

[SCHUMACHER]

High risk high reward - like ive said earlier - this can go either way and the continued dilution will turn off investors but necessary evil - they need to keep the company going and dilution is the clear path until mineral hill 15,000 ounce pit gets started and hoepfully they can find more - they stating 7 year Mine life so that should allow them to make money if gold stays up which it should

the continuous share placements are pis**** people off but they have no other choice IMO
A rights issue would take too long and share price would need to be attractive - speculative punt and why ive got 1.5% of my working capital in KBL - mainly because of Sorby hills 4 MILL ounce silver - if they can trade out of debt with their gold pits and be debt free by years end -as per companies comments that they would have paid back the 6 million debt then they should survive - any other option then the company directors havent been truthful - so guess its a leap of faith from our viewpoint

there are other companies that previously were in similiar positions and came up trumps - so we have same chance as they did

JB - imagine the poor sods that got in multiples higher like 2c sitting on losses but suppose most have moved on, we have new management and a plan to go forward - just not one to bet the house on unless your 100% confident this will turn for better- whoever takes that kind of risk is a clown however they might turn out to be a rich clown haha

the odds are much better than a casino at this stage 50/50 lol

[JBmurc]

Yes as to why I'm still holding.....the biggest gains come from the biggest risks ....certainly not a company to go boots in all pure spec punt money you can afford to lose ...with the 13m repayable to the bondholders in February 2017.... the major negative I wouldn't like to see sorted before investing more ...

[JBmurc]

KBL Mining (ASX:KBL) has renewed its ‘Iron Duke’ project, and revealed additional exploration work is on the menu for the satellite deposit.
The copper-gold deposit comprising 494,000 tonnes at 1.5% copper and 0.8 grams per tonne gold is about 50km north east of KBL’s flagship Mineral Hill project.
KBL is eyeing up processing rock from the Iron Duke deposit through the existing upgraded production facility at Mineral Hill.
It was granted a three year extension on the Iron Duke license from the NSW government – meaning its tenements now cover about 330 sq.km.
The deposit itself is a steeply east dipping, mineralised envelope which is characterised by a quartz-sulphide stock work up to 15m wide and extending over 550m in strike.
KBL told shareholders, however, that exploration on the permit has solely focused on the deposit – but with the permit extension in the bag it said that it would now move to explore the southern extent of the permit.
It said that a trend on the southern edge of the permit has had no previous exploration, but there are historical workings on the site.
Based on the early stage of KBL’s entrance into the southern edge, investors looking at this stock for their portfolio should take a cautious approach to their investment decision and not base their decision solely on this development.
The workings extend over 2km, with historical record suggesting that there could just be an Iron Duke-like system of mineralisation on the cards.

[penn]

Trading Halt 111.000.000 shares for sale at 0.002c


EDIT 39.000.000 shares for sale at 0.001

[JBmurc]

The trading halt is requested pending an announcement by KBL of the details of negotiations to
restructure arrangements with major service providers. A programme of restructuring arrangements
with major service providers was carried out earlier in the year and announced on 22 February
2016.

[penn]

And there it is KBL head shares trading at 0.001 .....
due to rain.

[JBmurc]

farrrrr out ....well there you go ..not point selling as zero buyers of the opts ..... got just under 2 yrs to see if they can turn it around and even keeping afloat ....slim hope this won't go down as my worse share trade ..... VIL was pretty bad

[heisenberg]

Much too risky for me

[Kees]

KBL down the tubes.

[penn]

Much too risky for me

Dead Dog now.

[Joshuatree]

Sorry to see this guys, commiserations.

[JBmurc]

Yes can think I better ways to blow near on 6k ..what a waste will feel better when I have buyers for my sections ....planning on 100-115k net profit from under 10k invested ...

silly boy ....will be my first every admin ....and I've been close before ....

[babymonster]

yes. looks like nothing will come back to my way...

[JBmurc]

stupid gamble ...usually never touch debt issued companies ....pretty much broke my first rule of trading .... got far too lax with limited study on the overall picture ...instead looking at the long dating of the opts... Gold producer near record high AUD Gold etc ....

[shasta]

Where's SCHU?

Hope he wasn't too burnt on this.

[JBmurc]

yes for sure Schu would have lost a few dollars

[SCHUMACHER]

YEP lost a few bucks but only 2k as sold out before administration at .003 c when they started to dilute and issue shares daily which was my warning to get out and whats interesting is that "NEXT MINING " who promoted this company have pubically come out and apoligised - just goes to show when companies pay for these releases we as investors still have to be wary - im not happy with a certain manager / management for leading us to believe we could resolve cashflow and get the other open pit up in time - i believe now they potentially mislead the market -

few less beers for a while should recover some of the loss :)

JB obviously the risks were there which is why oi only bought head shares - i hope you all good with an unfortunate outcome - GL with your property deal may you make a extra 6k profit :)

[JBmurc]

Yes wish i never heard of KBL think I'll keep to companies I've been following for awhile and have a good handle on rather that taking a pure spec gamble ...MKO up of late has made me near on 20k today so do feel better