Kalimantan Gold plunged 22 per cent after it said Tigers Realm Metals had pulled out of drilling at its Jelai epithermal gold project in Indonesia. "TRM did not see the results it expected in [its] modest 6-month drill test and they have provided notice to withdraw from the option deed effective September 30th, 2012, having spent two million dollars," the company said. "We are currently in discussions with a number of parties that have expressed interest in the project."
This is why you have to do a proper research if you are going to put all your hard earn money into something like KLG. Do not want to show off but if anyone interested can go to my post dated 22nd Mar11 and see why today'news do not worry me the slightless. Good luck all
"the news release does say KLG are in talks already with other interested parties for this project".
At this stage I don't really buy that. I think if Tigers have executed a drilling campaign and do not consider it commercial then I would take that as read. If KLG lets someone else take a crack at it I hope they don't put any KLG money into the venture. Altough after these results anyone else would want the lions share. I hope for sake of the locals that someone takes up the gauntlet.
If Jelai is a dud we still have got our income from the vegetable plot: The vegetable group has been harvesting produce from the plot and selling into the local market. The success of this is attracting others to join in the activity. The ponds have been stocked with catfish fingerlings that are growing well and being managed by each village. The two rubber groups in each village have established a nursery plot and planted rootstock for grafting. Experts from this village have begun providing training to the rubber groups.
of todays drop, not unexpected, but maybe overdone a little as imo the sp of yesterday had the Jelai project results already priced in, and ok at the moment there is no operator for that project but the news release does say KLG are in talks already with other interested parties for this project. Freeport have the sophisticated equipment to detect what they are looking for at the KsK, in this case Copper, and as bunny has stated, they don't have a set maximum limit spend on their drilling. Freeport have done their homework so lets hope they find what they think is in the ground. GLA
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