I heard this week their financing was imminent ... trouble is, with today's slump in gold (darned Swiss!) and silver prices, when is a good time to make the announcement?? Perhaps as early as next week, according to one of my reliable sources! Note that one of their recent partners, NDU Resources, saw its stock inch steadily upwards this week (NDU-T) - they're into zinc, a few dozen miles away - and the deal was, UKH and NDU would jointly build and share a new, modern mill, and reduce both their production costs substantially! Keno's existing mill reflects 1950's technology, and is inefficient. This extra $$$ requirement is probably what's been holding up the show. BTW, Keno is set up for driving their production ramp from surface into their orebody, in the winter! From the word "GO", this should take 3 - 4 months ...
Despite the bad day for precious metals, Keno only slipped 0.03 on the day, on high volume of over 30,000 shares!! Check Keno's chart out on canada-stockwatch.com, and you'll notice steadily rising "bottoms" - and a flat ceiling around 0.80 - a chartist's dream pattern leading to a breakout - soon!!
On the other hand, if the price of silver really tanks, they may hold off commencing production until the price improves, or projected to improve in the near future. In that case, the stock trading price pattern will merely develop into a "rectangle" pattern, bottom around 0.60, top at 0.80, heading to the right, until the announcement for a production go-ahead is made.
Hope this lengthy blathering helps! :)
Harry K.
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