Not much has happened at Kimber and the company has been eerily quiet on the news front. No news on the CEO search--maybe because potential CEOs are wary of an activist shareholder looking over their backs. The latest news has been a joke. For instance, Kimber recently announced that it drilled one hole for a possible extension to the Carman deposit. Total fluff.
Just how far things have fallen at Kimber is indicated by the new description of "About Kimber" which is included in KBX news releases. Previous releases stated to the effect that Kimber is hoping to prove up a resource of 3 million gold ounces at Carmen and nearby structures. Now, at the end of the description, we instead get to read about Carman's most promising "grab sample" results from a completely unrelated property.
The Carmen prefeasibility study, originally scheduled for February last year, rescheduled for November last year and then indefinitely put on hold, remains a major question mark.
The potential upside is that some of the drill results at Carman have not been reflected yet on their resource updates, the prefeasibility study may come through one day and many of Kimber's properties still remain unexplored. Also, KBX is close to major support now. But don't hold your breath. This company has made many mistakes.
I have a feeling that once the CEO is appointed, Kimber will shortly thereafter come out with the prefeasibility results. I'm guessing that the largely completed but unannounced prefeasibility results are being currently withheld to help attract the new CEO, since that will give the newcomer some momentum, starting off. But who knows what is really going on there.
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