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@tacktocover Guys, its Cartesian Royalty Holdings. They cannot hold equity so they have to sell as escrow releases occur. What is odd is that they are not responding to a block bid. This stock is stuck under a buck for months probably.
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@tacktocover if gold holds here, the stock grinds lower, possibly to 50 cents. That's the bad news. The good news is it will be so cheap at that price that anyone who knows this story should go all-in on the one name. If gold manages to rally from here, we will likely see $KNT hold or move slightly higher, but still lag its peers drastically. Cross you fingers that somebody can put a block together at the right price and clear this overhang.
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@DJS @MadeOfRubber Cartesian financed $KNT in late 2015 with a convertible debenture. When the stock shot up in the 2016 bull market they converted into equity, probably sooner and at a higher volume than they ever anticipated. I wasn't aware that they "can't" hold equity (seems strange that they would lend on a convertible deb if holding equity was prohibited - they've been holding a lot for a while now, despite their constant sell-down, but whatever...). I pretty much agree with @tacktocover -- if gold holds or goes lower, the bid volumes will stay the same or drop, putting pressure on the share price as Cartesian is still forced to liquidate, and it will fall to "no-brainer" buy levels around 25% lower than today. If gold moves up to say $1300+, both volume and price will grow -- volume more than price until Cartesian has sold out (or down to a level where it can (and wants to) hold). Personally, I'm hoping it drops down to no-brainer levels and will be buying with both hands if it does, but I'm already long so will be happy either way.
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@TheHolyBuyBull In a rising gold environment the SP could go up despite Cartesian
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@MadeOfRubber I appreciate all that info and thoughts. Hate being underwater this bad.
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@tacktocover This is a $10 stock by mid '18.
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@MadeOfRubber @tacktocover come on now you're just pulling my lef
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@MadeOfRubber @tacktocover *leg
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@DJS If Gold moves above $1300 and Cartesian sells down to its desired level (or out), then I definitely see $KNT as a $3 - $4 stock by then, but not $10.
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@TheHolyBuyBull When $gold was at $1350 in summer 2016 $KNT was above $2. It wasn't producing then.
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@MadeOfRubber @TheHolyBuyBull not sure if Cartesian was selling 100000 units a week then though.
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@MadeOfRubber Certainly waiting for them to do so today with this rise.
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@TheHolyBuyBull $KNT catching a bid today
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from #index,
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@Underdog Holy volume batman $knt
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@Underdog One big 2.5 million dollar bid around 11:30
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@Underdog Apparently the big 2.5 mill block move today was a Cartesian sell?
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@TheHolyBuyBull The big volume was a big buy followed by an almost as big sell
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@MadeOfRubber @underdog hope so. Cartesian sucks.
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@tacktocover For every share bought there is exactly one share sold. Trading is funny that way. Cartesian bought the royalties that got this goose off the ground. No Cartesian, no K92. Simple as that.
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@tacktocover Oh, and on the $10 mid '18 call; never underestimate the power of the drill. This is an awesome camp.
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SEDI_bot K92 Mining Inc. $KNT just filed 1 reports. View full report: SEDI:KNT
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from #insiders,
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@Stoneminer Ah... block sale of 2 500 000. Three more of those and some news that the production at Irumpafimpa actually is profitable would be nice.
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@marketwired K92 Drills Multiple High Grade Gold Intersections in Irumafimpa Area @marketwired/k92-drills-multiple-high-grade-gold-intersections-in $KNT $KNTNF
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from #newsroom,
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@Markus Nice News $KNT
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@Excelsior @Markus - Agreed. K92 Drills Multiple High Grade #Gold Intersections in Irumafimpa Area (Marketwired – Jan. 27, 2017) – Intercepts include: – 8.18m at 33 g/t Au plus 1m at 4.51 g/t Au plus 1.1m at 4.96 g/t Au in hole GCDD0020a – 2m at 22.6 g/t Au plus 5.1m at 9.73 g/t Au plus 3.2m at 6.03 g/t Au in hole GCDD0020 – 2.7m at 28.75 g/t Au plus 1m at 2.49 g/t Au in hole GCDC0016 – 2m at 32.32 g/t Au in hole GCDD0019 – 1.5m at 73.16 g/t Au plus 0.94m at 4.74 g/t Au plus 1m at 5.44 g/t Au in hole GCDD0011 – 4.3m at 8.16 g/t Au in hole GCDD0018 “K92 Mining Inc. $KNT $KNTNF is pleased to announce the latest results from the ongoing grade control #drilling program at its high grade Kainantu #Gold Mine. K92 is currently ramping up the Kainantu Gold Mine towards commercial #production, with its longest continuous production run to date now commenced….” @marketwired/k92-drills-multiple-high-grade-gold-intersections-in
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from #index,
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@strakpao nice and not many paying attention yer , hurry
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@tommy K92 Mining $KNT reports grade control drill results from its Irumafimpa mine with highlights including 8.18m at 33 g/t Au. @marketwired/k92-drills-multiple-high-grade-gold-intersections-in meanwhile Cartesian Royalties sells 2.5 million KNT shares at $1, according to SEDI:KNT. Cartesian has been a consistent seller. This is their largest block sale to date.
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from #index,
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@TheHolyBuyBull CRH still has 7.8 million $KNT shares
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@MadeOfRubber Great news. Few more weeks of Cartesian blowing out paper and we are done.
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@Underdog Will they blow it all out? Or were they just trying to blow out some of the paper they were forced to purchase from the accelerated warrants?
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@MadeOfRubber Seems they haven't sold lately which accounts for the stability / slow lift. Either that or they are filing late.
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@Underdog I have a hunch they sold today into the strength
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@MadeOfRubber Or maybe with less shares they don't need to report anymore?
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@Underdog yeah but would the not still have to send a SEDAR saying they are no longer a 10%? But you are right they should be under 10% now.
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Bslusarchuk@k92mining.com The latest drill results from $knt were exciting, as pointed out by others here, and the fact that the longest continuous production run is underway is equally so. But - hopefully this ahead of schedule production ramp up doesn't distract from the huge upside that is Kora. Multi-faceted situation with production, ramp up, expansion and exploration.
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@Elb Im also wondering about C and whether they still are insiders or not. Nothing registered since the 2,5m sale. Anyone know?
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@londonkiwi Has the company chnaged its accounting periods? With year end 31 Aug I would have epxected to see Q1 filed by now. TIA
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@Elb Yes its on sedar somewhere
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@londonkiwi Helpful thanks - so they changed year end to Dec 31 so no financials until end April. Hopefully we get a production update ahead of that.
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@Poker Is the csrtesian selling still going on?
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anonymous @bslusarchuk I don't think we are looking past Kora, but we are definitely looking for current production to hit or exceed targets :)
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@Bleu Lots of new Ceo interviews uploaded to cambridge house yesterday https://www.youtube.com/user/cambridgehouseintl/videos $AUG $SYH $BBI $TMQ $PLG $SVM $DML $NGQ $VIT $OR $KNT
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from #index,
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@MadeOfRubber This drop today smells like cartesian.
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@ggallant @MadeOfRubber yeah right, 0.02? If they'd attack $knt with their criminal activities, you'd get a great 20 cent buying opportunity
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@Elb @ggallant nothing criminal about it and during the 2 last months of selling the stock didnt do anything like a 20 cent drop.
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@Mr.Smokey @Bslusarchuk@k92mining.com K92 please update your website. There is no presentation to download, but there is one on youtube. When I download the technical report, I get the old stuff from May, even though the latest report from November 25th is on sedar. No financial statements on the website? How about an update news & outlook on the gold production. It's been a few months, since you guys started... I would be very interested in buying some shares, because of the low valuation. But all this above is putting me off a bit at this point, esp. the lack of news on gold production.
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@PhotoJ @Mr.Smokey He's nowhere to be seen for 6 months as the share price tanks, then pops in to tell us about his new cobalt company, only to disappear again. That's rich. The amount of red flags in this story is remarkable.
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@Mr.Smokey In theory, $knt is really cheap. They have a low-cost deposit to carry them a few years, scheduled growth and great potential for long-term expansion. I understand if a website is not entirely up-to-date (as long as thats not the norm). What prevents me from buying, is the lack of news on gold production. Iru quite obviously is not an easy deposit. Barrick apparently had massive difficulties, previous owner as well. Tech report never made it past a PFS, probably because of these issues. I want to see that they solved the issues, and produce somewhere near expected cost, before I get in. But the long delay points to nothing good imo...
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anonymous @bslusarchuk the silence with respect to $knt is deafening...
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from @bslusarchuk,