The test drilling for Handcamp is now getting underway and the NI 43-101 process and results filing by an independent expert will therefore likely be completed in a couple of months or so from now.
This is perhaps our best "known ETA" for us to work from. It's not the only possibility of BIG NEWS though. The other obvious speculation is around a JV with VALE at the Lucky site. Given the recent flurry of activity, and having discussed it at length with guys on the board here who have a lot more depth of knowledge than I do, it seems to me that this is more than a "strong possibility". I'd rank it as a "probability" right now. For the evidence on that see 911's post here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46159475
There is an argument that says that KAT is better off waiting until test drilling is completed at Lucky before negotiating any JV, as otherwise they are effectively signing a deal before anyone knows the true value of what is in the ground. I absolutely follow the logic of this argument and I believe it is true to an extent. What I think may happen (and this is pure speculation on my part, based solely on the recent activity around VALE and reported conversations with CEO Ken Stead) is an initial partnership between VALE and KAT to test drill and Lucky and get to NI 43-101 stage, with a heads of agreement for a full JV thereafter, details to be determined based upon those results. That is pure speculation, but if it happens to be approximately right then this announcement could hit any time. I am certainly convinced from the evidence we've seen that Ken Stead is in discussions with VALE and has signed a confidentiality agreement with them that means he cannot as yet say more. It is therefore entirely possible that some sort of partnership like this IS ALREADY IN PLACE.
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