Member Info for myfirstmillion

Is this how you "stop the chatter" Caldecott? You've now come clean that despite negative posting for month upon month you in fact hold no shares here. You sold out several months ago yet continue to feel the need to relentlessly post in the negative when you know full well that many others still hold. That's seems very twisted and perverse to me. Bitter are we?

I've done a few quick calculations and at the current share price we would end up after acquisition and placing with around 420,000,000 million shares in issue and a market cap still under 10 million pounds! I expect the share price to rise from its current level and subsequent placing to be at a higher share price so we should face less dilution than outlined perhaps around 400,000,000 shares in issue. I consider a market cap of below 10 million for the portfolio to be an absolute steal!

This appears to be a very good outcome for KLG! I took the opportunity to add further today. People are looking so short term on here. Hold for a year and today's price will be unrecognizable. Serious money to be made here imho.

*completely new

Out of that long and very positive article 'completely he's you manage to pick out a negative! Reminds me of someone else on this thread..

I don't see it as fragile. Its delicately balanced and all to play for. If it was a dead cert the price would be many multiples of what it is it's as simple as that. You either but in/top up now where the reward to risk ratio is huge and potentially life changing it wait till news of funding/partner/takeover is confirmed and buy in at a much much higher price. I've made my choice and I'm happy to keep adding at what I perceive to be at a ridiculously cheap price.

The CoW lasts till April does it not? I believe KLG have funds to last at least till then so there's no imminent panic. If a partnership or takeover doesn't happen then KLG could come to market to raise the 4-5 million needed for the next stage of development. They've analysed 30 years of data and come up with the $1.2 billion figure. We have to take that at face value, they usually err on the cautious side so I think given the balance of probabilities that it's a fairly good yardstick. The fact that it's open in all directions can only add value. This is all shallow resource, easy to mine and very attractive to potential partners or aggressive aquirers. Further deep drilling could even find something much bigger..

$1.2 billion! An established resource that is open in all directions, so this could easily turn out to be double that and it's a shallow resource! All for a 4 million pound market cap! If a takeover or a deal happen the issue of funding is a red herring! That leaves the extension of the Contract of Work where up to this point all previous extensions and permits applied for have been granted. It's a no brainer and the biggest single risk to reward potential I've seen in 25 years of investing. DYOR

Rns

I think the technical report will give lots more detail and in particular, about the areas where the resource can be extended which is pretty much in every direction! The devil is in the detail!

Yeah looks like support here. This is the second time now it's popped back up from just under 2p

That 'story out of London' about a supposed placing at 5p came from Tom Winnifrith and it reeks of bull****. First off he claims it was hastily organized by some other broker and not the house broker which seems more than a little bizarre to me. Secondly when placings are organized the mm's know about it and manipulate the price accordingly. To suggest that they couldn't hold the price because of the weight of sells is to be quite honest, utterly ridiculous and complete fantasy. Anyone who watched the action unfold could see that it was the mm's that brought the price crashing back down and not the weight of sells! The company have stated they are actively seeking and in discussion with a number of interested parties over both Beruang Kanan and the Jelai gold prospect. All options remain open but in the 5 years I've been here there has not been one single placing and I do not believe this is the kind of company that looks to go to market cap in hand on a whim. They would much prefer to cut a deal as demonstrated by their past record. Of course there may come a time when it is necessary or indeed prudent to proceed with the next stage alone but I don't think that is uppermost in the companies mind at this juncture. As far as I'm concerned that article was garbage and written for who knows what ends DYOR

http://www.proactiveinvestors.co.uk/companies/news/72907/kalimantan-gold-bkm-prospect-shows-significant-near-surface-potential-72907.html

http://www.smallcapnetwork.com/Kalimantan-Gold-A-JV-Partner-For-Their-KSK-Copper-Project-Could-Be-A-Real-Gamechanger/s/via/35680/article/view/p/mid/1/id/242/

Amen brother Wolf! I see our resident soothsayer of doom or the merchant of menace has reared his dissenting head. The guy purports to be a lth yet has been posting nothing but negativity about the company for 5 years. He thinks and no doubt believes he can run the company better than those in charge. Delusions of grandeur coupled with a thinly veiled hate of those actually doing the job.

Your thoughts are much appreciated. Fwiw I'm thinking along the same lines. Short term large gains, longer term massive gains. They won't have any trouble attracting a new jv partner imho with those numbers and all long termers here know there's a lot more in the whole ksk contract of work! The beauty of this first area resource is it's accessibility and because so much work has already been done it will be relatively inexpensive to extract but the real prize will come later..

New hero as you know I rarely post here but have been a holder for around 4-5 years. You're one of the few posters who seems to actually understand how to value a mining company. I'm just wondering what your latest calculations are now saying given that we now have some concrete numbers, regards a fair valuation for Klg?