Aqua
You are expressing sentiments probably held by many long term investors and you make sensible points. The alternate thinking is that every time Jeff Reid has made a public announcement in the last year it has been met with a barrage of negative commentary by a hostile publication and concurrent name calling. If he is actually trying to rectify the damage done, he may be holding off all news until the well documented criticisms have all been addressed and the company is ready to move forward with all technicalities in order.
My messages to the CEO have also gone unanswered. But those supposedly in contact with him don't appear to possess any inside information. Furthermore, what information they may get from him eventually filters down to us.
KMAG is not an investment. It is a speculation at this point, so evaluating it with criteria for traditional investing gives it a DDD rating. It is prudent to avoid it if one has conservative investment sensibilities. On the other hand if the statements of the informed shareholders come to be realized, KMAG will be a Bonanza.
It appears to be a coin toss. Many are making calls while it is in the air. The outcome will be known eventually. Until then all is talk. Technically, the stock is poised to move lower as uncertainty takes its' toll on the cautious and encourages the cynical. Sell signals have flashed constantly, and lower buy signals appear. If one is betting on Heads, averaging in is the proper ploy. If one is betting on Tails the best exit point was long ago. In every casino there are liars, cheaters, suckers, experts and lucky. Over a year ago I thought I was getting into a risky investment. Events indicated that KMAG had become a gamble to the average uninformed investor and there were ample sell signals. I made a bet and am awaiting the outcome.
