Good day!

I'm quite surprised by all the gloom and doom. Personally, I view today's filing as very good news indeed.

The concern by many KRY shareholders at this site has been that the company would run out of money during this Q4. That no longer is an issue. Shareholders have not been diluted and additional borrowing has not been taken on. I would suggest not reading too much into all the legal disclosures because that information is nothing new and shouldn't cause fright now.

Basically, KRY needs to maintain compliance with the MOC and can't move ahead with arbitration vis a vis the note holders so they have covered off their bases - (1) compliance with noteholders, (2) compliant with MOC, (3) funds to continue the process and (4) no dilution.

I would suggest remembering that quantified reserves at Las Cristinas were based at USD 550/oz in 2007. At USD 1115/oz the reserves would be significantly higher and in today's gold mining world that is one big deposit!

My belief is that a deal has been worked out, that these quarterly financials were never going to contain any JV/merger/buy-out news so we wait again as the process continues.

Part of this process will now focus around the upcoming noteholder meetings and when they do not result in any further noteholder action I think we see an Endeavour or proxy negotiate a discounted purchase of the notes and a stock swap bid by RML or merger. When that takes place then the merged company teams up with CVG and Las Brisas/Las Cristinas is mined as a JV (CVG + RML/KRY). RML then gets the nod and goes for the London listing to raise the cash.

Frankly I never did think KRY had any intention of ever paying off the noteholders. That part comes soon by proxy on a negotiated discount deal because the noteholders now know recourse against assets is fast running out.

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