Hello HFB;
Talked with IR yesterday, and at this time they do not know why the sudden increase in activity. Travelling around the various forums will get you plenty of rumours and thoughts of which IR has categorically denied.
Someone on the Raging Bull forum alluded to a possible short covering because of month end rules in the states, it was interesting to read, I can't say I agree with it, how would that explain the buying on the TSE??..........................just a reaction, I don't think so??
I do know that Nesbitt was the main buyer on the TSE on Monday and also yesterday I believe, so someone at Nesbitt or through Nesbitt either is playing a hunch or knows something??
So we have to wait and see, either way it was a nice move and the action also was nice to see.
Maybe?? last weeks release ie San Gregorio results?? that is being sent out to institutions this week is sparking interest??
They appear to have done an excellent job with reducing costs, as well as increasing mining and milling efficiencies?? It demonstrates to the markets that KRY has now entered a new phase of development, and that they will be cash flow positive??
In speaking with IR they are continueing to persue other opportunty's such as SG to add to the company portfolio.
Some suggested developments in Venezuela, I have discounted that based on the fact that the new Chavez Government is just being sworn in and they have not really laid out any plans for the mining industry in Ven, this is critical to not only KRY but all other mining company's holding and exploring lands in Ven.
Venezuela needs to get their mining policy's in order for investment in that industry to expand. So as for now I believe the market is giving KRY a big fat 0 for value with regards their Venezuelan concessions??
With regards,Frank |
