Member Info for Updoo2

Hyperbole? Maybe? but don't laugh. When this venture was still called KIC , a private company when most shareholders knew each other, it was safe for the geologists to pass the word of what they witnessed on the field. That it has not being proved yet, for whatever raisons taking that long, does not mean that it is not there.

I personally remain convinced, like O.Hegarty (Oxiana CEO) said about KSK " watch this space " we have seen nothing yet.

Worth to listen to Steve Hughes V.P exploration - he was so enthusiastic about KSK - y o u tu be watch?v=J2ZaMJQoMn0

He asked to be transferred to another Tiger Co. for health raison ? Kalimantan hard living condition?

UG. I hope you will come out in front. I said 'lost patience " because I believe that any out of the ordinary resource takes a very long time to be defined, essayed and extracted. (see Grasberg)

The more so if they happen to occur, like KSK, on virgin land, untamed , riddled with surprises and tribulation. Certainly not for the faint hearted, either mgt, exploration team nor investors. ( Still hope that one day we can read about Mansur Geiger experiences (the real Indiana Jones) .

I will disagree with most of you. Selling KSK was imho a mistake of monumental proportion. Mgt lost their nerve and patience. We sold the whole concession for the price of 1 project while there were more than 30 prospects defined in the early days. There was so much to choose with some of them massive. (ask Freeport geologists how much disappointed they were when FCX pulled out) Because of limited funds it was decided to start first with the one which was small , accessible by logging road (remember that it took the team in the beginning 4 weeks trekking thru the jungle to reach the area) and identified as being very close to surface. The strategy was get BK on the road and then it would become easier to finance exploration of the larger deposits (Baroi, Mansur, etc) By 1990 Beruang Kanan (BKM) was estimated a@ 100M tonne of contained copper. If this prediction has now being proven mostly correct does it mean that the other 30+ prospects detected on KSK are duds or their true potential remain? . In the year 2000 the shareholders information sheet stated: the company's economic target size is 2.5 billion tonnes of copper ore, at a copper equivalent grade of 0.75% copper.

Nice write up from an investment point but it omit the fundamental aspect that sets this venture apart from all others.

Profit yes but not only! There is no one in the world grasping the true value of KSK better than Mansur. Mansur has always maintained that : Quote "this is one and the same. Our exploration efforts and our community efforts are one package"

The more the community benefits from the extracted wealth the greater the discoveries. In other words this is to be taken that perhaps KSK is bigger than Asiamet (or any other mining entity that may want to exploite it)

Dream on I hear you say :=)

BK(M) was always going to be the first cab of the ramp to provide finance for the other much larger deposit identified

on the KSK concession. Has anything change?

Knowing what they know about the unheralded out of this world potential of KSK I doubt the board will let it go unless

we receive an offer we can't refuse. (remember , how often you see that ALL the directors of a fledging company have each taken a large stake? IMO They are unlikely to be willing participant in a drafting behind scenario)

Correction: asset valued at 5/10% of what we know "so far" to be in the ground. NO ONE knows how extensive the KSK

resources truly are .

Anecdote - In the early forays up the headwaters of the Mahuroi (1982-3) Mansur collected by dredging over 2.5Kg of 22/23 Karat gold

Well over the years we are told it has not been a walk in the park. Firstly the first few years it took 3 weeks+ to reach camp site as there was no roads but only accessable by rivers pirogues and jungle tracks .. Monsoons or dry weather always complicated things and also made living conditions extremely taxing. The presence in this very remote work area of the orang Oot who considered that to see or talk to strangers was bad luck so much so that they thru stones but they could never be seen. Jungle massive fires and blanquet of smoke for weeks on end , access permit , logging road usage negotiations, Indonesian political unrest, changes of government policies , emergence of the green movement, an Indonesian public service in name only, uncertainty about legality of tenure and changing regulations causing long delay, new unpopular /restrictive mining laws, appalling ethnic violence of 2001 and on going tension (Dayak & Madurese), The great financial crisis, etc etc. I hope that one day Mansur who has been there since they first pan the alluvial of the Kahayan head water will write a book about KSK. The Indiana Jones story writer will eat his heart out :-)

We have been at it for a very long time. Did you know that a lots of top Companies have looked and are looking at KSK.

Some top names have already invested millions exploring KSK but for one reason or another they moved on. People like Paringa, Molopo, Ciprus, Oxiana, and even Freeport McMoran invested some 30+ Mil into the project. They moved on but we stayed and we acquired all their data virtually for free. (although Freeport will need to be reimbursed when we become profitable ) They were all very enthousiastic and excited about KSK (for good reasons) but realised KSK was a

tough nut to crack. A get rich quickly is not in this venture DNA.

We do not have deep pockets . At a million + bucks per hole Hate to think of the gamble when you consider that we went from 40 million to 2 billion + shares exploring a near surface deposit. Lets Stick to the original plan. Develop Beruang Kanan (BKM+) prospects as the first cab of the rank and take it from there. Once we are in profit move on next to one of the other 30+ prospects already identified on the KSK concession. There is plenty to come . No need to jeopardise unecessarily our position .

I meant the horrendously expensive 2000m deep holes needed to test the Beutong resource

For anyone interested a very informative paper by Bardolf, who has worked very closely with the Company for long time.

https://www.academia.edu/8440569/The_Mismatch_between_Mineral_Exploration_and_Community_Engagement_Some_Ethical_Questions?email_work_card=thumbnail

This is why I do not share the view of people who want to sell KSK. Firstly KSK unlike Beutong does not need 2000m drill and if we build up on close relations with the locals , as KLG initiated, should see access risks minimized . Beutong has already experienced protests. We should not lose sight also that soon Kalimantan will become a focal point of interest as it will host the new capital of Indonesia. The whole island will probably start booming in all directions with mass immigration from an over populated Java . We were there first. Let us not sell ourselves cheaply so that someone else reap the benefits.

AndreK mentioned EMR. Well guess who is the EC?

Wanting to sell KSK before starting operations would be a monumental mistake. We have seen nothing yet. O.Hegarty,

JV with Oxiana , said about KSK "watch this space" . Owen got out mainly because he was a man in a hurry!

In time the true value of this company has little to do with today's Cu price. Like the boss again repeats : CONSIDERABLE UPSIDE POTENTIAL OF KSK . This is what is really all about !!! Impatience will get you nowhere.

Let stop and think for a second . Why spending 37 years on KSK including 25 years on BK just to unload with only 0,5 Mt cu on the score sheet? I find surprising how lth are still blissefully unaware of what is at stake here and how they are missing the coded messages that are in every news release. Mgt cannot tell you about it directly because it is not

confirmed, of course, but always referring to "district scale upside" they have to be aware of the potential of not only BKM but the futur of KSK.

Timing is everything in a world with no clock.
Closing on almost 40 years of practically non stop efforts and still at it. This reason alone makes KSK so special .
In 1989 when BK prospect was surveyed it was already agreed that it would become the first cab of the rank even though there was some 30 + others very promising prospects identified on the concession. Like Darryn now confirm, we are getting closer to our first goal. This will create the cash flow and the stepping stone to the bigger and brighter ;=) deposits.
If this project was ever becoming a grab and run venture it will never ever fulfill its promise , so for those of us who do not hear the ticking we are still on course.
Best of luck with your investment.