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The saying "you can lead a horse to water..." comes to mind. Go to the Nevada SOS site (it's where KATX is incorporated) and do a company search, you'll find your information there.
The 280M increase in the A/S from a couple months back. They were almost fully diluted, they increased the A/S, now they're doing more convertable debt.
Dilution doesn't make share prices go up. At least we now know what the increase in the A/S was for. I'm glad that link was found, I was starting to think maybe we found a bottom. Look out below.
Then you have the right frame of mind with KATX, trade it for what it is.
Sure, I don't know the details of this round of financing, but I was here for the last round and saw how that went. I'm not here to try to tell you what to do, I just don't want to see people get hurt the way many got hurt the last time around as the company sold shares while keeping everyone in the dark, all the while sending emails to a certain "special" posters to try to pump up the stock while the company was selling. THAT was highly misleading.
Look at the filings Mappo, their overhead is huge and their salaries are bloated for what the company is. So far the only thing they've been able to do is sell stock.
We never found out the terms of the last round of financing either until it was all over, looks like it's about to happen again, only I'll be sitting this one out. If there is going to be another $1M of stock released into the O/S, KATX is overvalued at .015.
I highly, highly doubt they took the risk at .01. I bet their true risk is well below .01, if they can continue to unload shares to "loyal longs" above a penny they're probably doing ok.
Seeing that they're doing convertable debt, it's pretty easy to predict what's going to happen next. The O/S is going to go up as KATX continues to try to raise funds. I would like to say it would be funds for drilling, but if they're going to continue to pay out $700k in salaries to themselves, I doubt it.
Ouch, hope everyone is ready for the O/S to grow again. Going from an O/S of 300M to probably 980M in a span of a little over a year. I'll be waiting for my .005's. One thing I've learned with KATX, never try to call a bottom.
Low volume walkdown. Waiting for takeoff.
NOW can we stick a fork in this year?
I'd rather go by the filings than a pinky CEO's word. One thing Ken has at his luxury is selling stock to pay his salary, it's a fact that the O/S has doubled in the last year, what does he have to say about that? If he wants shareholders to start taking his word on things he has a long way to go with transparency.
You need money to buy back shares. The company doesn't have any.
That's funny, because the filings show enough money paid in salaries for each member of the KATX team to collect a six figure salary. It seems the only people hurting in KAT land are the shareholders, good think Ken and Tim got their shares for free.
Ok, so he staked the claims around RR (something that's a pretty common practice), now where's the rest of the drilling results? It's been over 9 months now. The fact of the matter is that we drilled, our financing was cut off, and now the company went silent. Either you can wait for Ken to say the rest of the results weren't good, if he ever releases them, or you can take a hint.
At this point dilution is inevitable if it isn't already happening, with no financing in place the company will start selling shares to keep the lights on and pay their six figure wages. It's a shame we didn't get more drilling done with the last round of financing.
You're actually blaming people for getting upset that they don't have their shares over a year later? You're right, this is reality, and in this reality, when you make promises that don't happen, and don't let shareholders know that they're any closer to happening, people get upset. Ken is where the blame starts and stops, he wasn't ready for meeting SEC requirements, and hasn't kept shareholders in the loop.
Many people here were promised something they didn't receive. When that happens, people tend to stick around to express their displeasure.
Indeed, it's past time for KATX to put some numbers on the board. All I've heard is excuses for the past year.
More nice buys coming in, I'm really liking how this is trading and keeping gains. Still only a 5M market cap for a gold producing company with positive cashflow, way undervalued.
For this reason you want to be taking something out of the ground along with REEs to make the overall deposit economical. Processing REE is costly. This is why people headed for the exits after the results were announced. I'd much rather have a nice intersection of low grade copper than low grade REE.
KATX is anything but a great company. They can't even get a share distribution accomplished. I agree, open your eyes and do your DD, this has been stinking for quite some time with shell and share games.
Lots of buying without a whole lot hype. People loading up still while keeping it quiet. I did the same thing lol.
Huge buying volume today guys. NWGC still loading up, how far it goes is anyone's guess.
Add the fact that NWGC still relatively unknown to boot. I was pointed here by someone who did their homework. This is going to fly imo.
I've done the rough math, if NWGC reserves and Andes Gold reserves are anywhere remotely close to what we think they are, we should all be very happy. The true potential of this gem might be a ways off yet, but you have to start somewhere, and they are ramping up production. Best accumulate before they release the next batch of financials imo. At some point this isn't going to fly under the radar any longer.
You should've waited after the morning hours, after that 625k dump on the bid the shares should've been easy to get. Time to start looking for dilution. KATX already doubled the O/S in the last year.
If Ken's plan was to have one functioning corporate OTCBB entity, he should've never split the company in the first place. It would've been easier to uplist KATX without needing a shell. All he would've needed was an audit and be fully reporting with the SEC, which he will have to do anyway if he ever wants to get BVIG up and running, their latest financials were still unaudited.
If you look at the way it traded, by far and away most of the buys were on the ask side. People are accumulating.
They are incorporated in America, they trade on an American exchange. The only thing that matters is the license to continue business in America. Just another red flag.
So why not let the world know after the claims were staked?
Why don't you or someone else with a magic phone line to Ken ask why he never released the rest of the results from hole #2? Ask him why our financier left. Let's get to the bottom of this.
I believe the company has had the results from hole #2 for months now. Lab turnaround time for REEs was a few weeks as told by a reliable source on this board who works for a lab. In that time our financing was cut off, 'nuff said. I think our financier waited around to get the rest of the results.
Olympic Dam has huge deposits of gold, silver, copper, iron, uranium....What minable deposit does KATX have? You'd think with all the attempted comparisons made here, KATX would have more than two holes, 95% of which doesn't appear it was even worth assaying. Regarding my original post, it was to the fact that nothing KATX has is minable, which they don't.
I said that no review of the results contained the word "minable", which they didn't. Are you holding on to the hope that a 7.5M intersection of sub 1% REE is minable? It just isn't, sorry.
The best thing is NWGC is pulling gold ore out of the ground right now. We don't need to wait around for years for a mine to be established and wonder what the price of gold will be.
Vale was digging at Voisey before KATX even existed. KATX is just a blip on the radar. Claims rush? That's bunk. Vale already got what they wanted, Cornerstone even got a better deal than KATX.
Vale needs KATX? Now I've heard it all. A mining superpower needs a pink sheet exploration company. That's funny.
Let's see, we drilled, company won't disclose most of the results, Jack left, now we're looking for financing. Smart money would add these facts up to form an opinion. It beats NDA conspiracies, alleged phone calls to Ken, and the "PR this week" crew.