Replies to post #135610 on KAT Exploration Inc (KATX)

[chmcnfunds]

It was not the current cash situation which caused the two hole drilling. It was always the plan. I've posted several times that Ken has stated that two drill holes is sufficient to attract a JV and financing and hence the most economical course to take. Here as far back as July, 2009 he was envisioning only two holes:

Quote:
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We have another property called “Rusty Ridge” and by means of an airborne survey and some ground geophysics it too is ready for drilling. There was an interpretation done by an independent geophysics company from Vancouver, on the other side of Canada, who likened many of the signatures that we are finding to that of the Olympic Dam in Australia. That is actually their words not ours. We have two deep targets, so the idea is to get down there and see what those targets are. While it is a costly operation, we will venture it ourselves but would hope to joint venture it with another company. The only thing is, with the Handcamp Gold Property a priority, we are not sure if we will get a drill on the Rusty Ridge this year. If we can find the time to promote it and get a major company to come and use their money, well that will really help. However, if not we will test that deposit ourselves. If it is what we hope it is, it would probably turn this area into a whole brand-new exploration play for major companies because these deposits are kind of rare in that they host nearly all the major minerals. They have base metals, gold, silver and uranium along with rare-earth minerals. If it turns out to be an economical deposit, one can imagine how other companies will take interest in the whole region looking for more of these deposits.

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http://www.ceocfointerviews.com/interviews/KATX-KATExploration.htm

Note that here and elsewhere throughout the article he discussed the need to "promote" the properties. While some accuse him of pumping he has always been clear as to the need for news releases and paid promotions.

Some accuse him of jumping on the REE bandwagon. Well, he was there before the REE bandwagon and recognized the import of REE.

He also noted many other companies will take interest in the RR area. Not sure of the timing but the other companies touting REEs and mentioning their vicinity to KATX seem to have followed as he predicted.

KATX/BVIG/KATG