KAT Exploration Inc (KATX)

[Biochemist2002]

Standard lab turnaround time is two to three weeks, at least for the vast majority of labs that I've ever dealt with. Actually, it's usually, 10 business days. Of course, the labs strive to get the results back sooner than that, if possible, because it's good for their reputation. But these labs can pop out the results in 2-3 days if you have the extra dough. For some tests, you can even request 24-hour turnaround time (although not sure if that's possible with the fire assay method, due to all the prep work prior to analysis).

IMO, these results are delayed, and have been for weeks. And according to the last PR, it looks like they're only expecting/reporting hole #2 results. So, I'm guessing we get no results for hole #1. I'm not going to speculate on why, but fact is, we have NO results for hole #1, and they are in fact delayed. I've never seen a lab take two months to do such analyses. If they do, I don't see how they're still in business, with such terrible turnaround.

Nov 22, 2010 drilling was completed
Dec 23, 2010 only partial result for hole #2, no results for hole #1
Jan 07, 2011 still waiting for the rest of results for hole #2, and no mention of #1 results.
Jan 23, 2011 still don't have all the assays for hole #2 and still NO assays for hole #1.

I'll bet a $5 footlong the delay is NOT at the lab. Maybe it just took the crew a little longer to split the cores and send off the samples. I'm not sure. But, like I said, it doesn't take these labs 2 months to do these tests. If there was a delay or instrument problem (which do occur), they would sub it out to another lab. That's just common practice in the industry. You don't leave a client hanging for months on end, or you don't stay in business. But who knows, maybe the lab director told Ken they're "working diligently" on the samples and he should "be patient." LOL.
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Like I said, it doesn't matter. They do NOT leave a client waiting two months. If the instruments/equipment break down, you sub it out. If the lab doesn't think it can meet the turnaround time (TAT), the first thing they do is call the client. Next they call they pre-approved subcontractor. Most lab certification authorities REQUIRE certified labs to keep a list of pre-approved subcontractors ON FILE for just this reason. It's all about quality control. Heck, I've even had clients come pick up the samples and overnight them to another contract lab, and then pay for 24-hour turnaround at the other lab to get the results back.

BTW, I'm not saying labs don't have breakdowns/delays. But if they do, they typically subcontract it out. At the very least, they immediately notify the client and ask what they want to do (i.e. wait for the repairs, or let the lab sub it out). If the results are important enough, the client says to sub it out and get the results ASAP. If the results are not urgent, or you aren't in a rush to see the results, then you may tell the lab to just hold them and run them as soon as the equipment is fixed.

It could just be that the KAT crew was delayed in sending the samples out. I'm not sure what personnel they had on hand to inspect each section of core, split it, and send off the sections they wanted for testing. Maybe that took longer than expected. In any event, we should have news next week. I actually cannot believe that we are sitting here 2 months from drilling completion date and still don't have all of hole #2 results, and NO results for hole #1. But hey, I can't believe they haven't filed the S-1 yet either.

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