"from what we've heard in the past any material change in wording (and this IS a material change) has to be approved by fung....so WTF is fung trying to do? get all retail out of this stock...

these guys are unbelievable...."

CJR - I don't think it is that they want us to go broke, I think it rather they don't really care about retail shareholders. Fung/Marshall seem to have a different idea of what shareolders deserve to be told than most public companies...which has always bothered me.

I think a simple PR update would have kept us much higher in PPS and prevented a lot of retail holders from giving up. What I see as "changed" , IMHO significant:

• June 7th PR revealed a binding agreement that expired on 7/31
• The agreement was for just the A&F and KRY promied us more transparency/news as each milestone was completed
• Based on information I and others have received from RM, the agreement WAS officially extended, IS binding on both parties, and there are no apparent problems.
• In addition, it appears KRY has opted to pursue a more comprehensive agreement that combines most of the milestone steps (perhaps now even the permit) into one.

If this is all true, then I agree this is a significant change from what was stated in the June 7th PR and the vague references in the Q2 filing were not specific on these issues. Based on this I think we deserve a PR update and I think most other publi companies would do so.

The reason we don't I think is because of one or both of the following:

1. Large shareholders and institutional holders have already been told of the progress and re-assured so only retail would benefit from a PR.
2. China has doubts about VZ actually coming through with the permit, and moving forward without it on the "hope" it would be delivered by closing would force China to start some of their agreed upon investment in KRY/LC without the permit. Right now they only have 2.5 million on the line.

I disagree that KRY can't release a PR simply stating what I outlined in my 1st bullets and I disagree that this is normal or not significant and does not merit a PR.

I tend to agree with GW that KRY never believed they would meet the 7/31 deadline and it was just mentioned to get the financing done. Again only retail was hurt.

I do think this will get done, but not this year. It does not appear that instutional or large shareholders are selling so despite the PPS drop it is really only retail getting hurt (assuming the dea does go through) and really only retail selling.