KAT Exploration Inc (KATX)

[Rick-UK]

Cornerstone were not prepared (or could not raise the finance) to spend the cash to drill South Princess (the name of their property) themselves and were not able to attract a JV partner to take on a percentage of the risk. In order to be successful you need to be in the right place at the right time and have the right vision, strategy and resources to identify and exploit the opportunity - all of which is part skill and part luck. If Cornerstone owned South Princess now then they would probably not have a difficulty getting a JV deal arranged as the market for copper now is very different to what it was in 2002 when Cornerstone spent around $1m on exploring South Princess and compiling their report or even in 2004 when Ken and Tim left Cornerstone to found KAT Exploration...