Topic: [BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins - page 10. (Read 54742 times)

Totally agree to this one. I have invested and been involved with many mining companies in Australia and this is a bad deal. Don't want to slag off to much but my opinion is high risk, little reward , that's not making sense to any investor in the real world.

Well I Invested in this. Keep up the good work. There are still may shares left, so this needs some more publicity in oder to get the helicopter airborne. Try to run some adds somewhere!

Me too.


Sorry dad.

Investment is risk, no matter the trade platform.

These guys could run with every bitcoin I invest, and it'd still be less criminal than using commsec!

 

BIG NEWS!

Kenilworth is awaiting approval for listing on BTCT.co!

This extra exposure will really ramp up the funding they're looking for.

you are comparing rare earth sector mineral to the cryptocurrency tech sector. lol, oh man.

will shares be available on litecoinglobal?

What's it worth?

Well actual proven reserves sell for far less.

You could start with a basic search, google "gold mining" site:.au news

and in the results:

eg a mere $13.5m for this http://www.proactiveinvestors.com.au/companies/news/33730/kentor-golds-andash-project-to-benefit-from-new-kyrgyz-republic-laws-33730.html

eg $2.8m for this stake: http://www.proactiveinvestors.com.au/companies/news/45322/red-rock-resources-sells-two-thirds-of-jupiter-mines-stake-for-a28mln-45322.html

http://www.proactiveinvestors.com.au/companies/news/45342/robust-resources-to-raise-941m-via-rights-issue-and-stake-sale-in-romang-island-project-45342.html


If you read further you'll find a lot of actual proven real world mines closing or reserves not being developed further due to becoming uneconomic - high cost of mining, low gold price.

Note that 'listed' companies as well as being far cheaper also give you some legal right to any profit.

I posted some brief research here http://www.reddit.com/r/Bitcoin/comments/1gdbtp/kenilworth_explorations_your_thoughts/ in case you missed it.

They just don't advertise it enough. BFL is a bad deal but they advertise heavily. And get tonnes of pre-orders.


Care to explain?


I don't know how it is in Australia but here in the west (EU and USA) banks don't tend to lend money to businesses anymore. Some businesses can't get a loan even when the value of the collateral is higher than the requested loan.


Well d'oh, it's a startup. They haven't even done a full survey yet.


The bios of the board members are listed and many of them have decades long experience in the minerals sector.


What should the proper valuation be according to you?


Always good advice. As is not spreading FUD.

Hey xavierlol I'm with you. I reckon kennel worth was dreamed up after a few pints of guiness late one night as a bit of a sc.. er joke.

Even if it wasn't you'd be crazy to give them your BTC while it's so far away from even a remote chance of getting off the ground, or seeing any return whatsoever, what's the point?

Prendergast: "Yes Kenilworth Exploration is a serious mining exploration company"

Exploring for mining, that doesn't make sense. Does he mean mining and exploration? Maybe he means minerals exploration. Is it serious mining or serious exploration? Oh it's just so complex isn't it? Anyway, who cares just what they do, that's a minor detail, they're a real world company, so let's move on. The Kennel Worth Serious Mining and Serious Minerals Exploration Leading Real World (honest) Company.

hmmm ...

There is a simple reason why the IPO isn't getting subscribers.

Because it's a bad deal.

For starters, the valuation is ridiculous. And an investor needs to ask themselves why the board is not funding their exploration through other means, such as traditional banking finance. The answer to that question could very well be that they COULDN'T get finance because the business failed to meet general criteria (not enough assets or proof of a working business model).

There is 0 revenue reported. We have no details about the executive teams actual performance running a resources company. A valuation of 6-7m is frightful.

Please invest carefully.

Q - Does this invalidate the other survey they had done?
A - No.

---

Commonwealth Securities, also known as CommSec or ComSec, is Australia's largest discount stockbroking firm operated by the Commonwealth Bank of Australia, one of Australia's top four banks.
The subsidiary has been highly successful as a discount broker by attracting many so called "mums and dads" (retail) investors. It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of its business

---

Yes Kenilworth Exploration is a serious mineral exploration company, yet you state it's an absurd venture, the reason for this statement is not elucidated, and your comment is merely a sound bite that means nothing.

- We have identified mineralisation upon our exploration tenements,
- We have one hit of a very high gold find, and many other mineralisation confirmation from the work already undertaken,
- We have independently valued our exploration license at $19 million,

There is nothing absurd about raising funds and expending them on further identifying and confirming the exact locations and volume of these mineralization zones upon our exploration licenses. We have undergone, and continue to undergo, red tape procedures to maintain our corporate entity.
As you should know red tape never selects the commercialisation of any business venture, and therefore your comment is yet again meaningless.

We are a leader in mineral exploration, the technologies that Kenilworth Exploration are employing to identify our mineralisation zones are the best available in the world today, we set out our clear budgets, we base our valuation in the market place upon 3rd party independent valuations, and will continue to do so. No other mineral exploration company does that.

We are open, honest and transparent and just because we are moving into a new realm of funding via bitcoins (BTC) does not distract from these aspects of our venture. Indeed because we are the first we take our responsibilities very seriously.

You would seem to presume that all persons that are involved with bitcoins are KIDS ("kids this is the real world") please do not attempt to make such presumptions, your comment is pejorative and arrogant. Just because you have been around, and only presume to understand the mechanisms of a CommSec trader.

Given that you would claim to understand the old-world trading mechanisms we must presume that you are aware that CommSec in Australia, with whom you claim to be a trader, had to admit to the Australian Securities & Investments Commission (ASIC) that their Australian traders, in Q4 2012, had engaged in dark pool trading,
Link: http://brw.com.au/p/investing/commsec_dark_pool_in_asic_spotlight_MqrQ3qjKzj2DyWgBhXq1XI

Dark pools in effect hides the scale, sale price and information relation to its trades, are theses the open, honest and transparent activities which would attract others to trade with CommSec, is this the type of " fudge" ( “making it easy to fudge whatever they please” ) that you expect others to engage in ?
 
Well don't presume that just because CommSec and its traders can attempt to fudge that other behave in a similar manner. Kenilworth Exploration Limited is a serious, genuine, open, honest and leading edge mineral exploration company, your postings can only be seen as a fear of new ideas, new funding mechanisms that may impact upon dark pool efforts by the established traders.

You could have made even more by betting on right numbers on satoshi dice!

Does this invalidate the other survey they had done?  What about their operation would prevent them from starting this venture on something like commsec?

Implicit in Prendergast123's response is the incentive -- if the survey finds large deposits, presumably the Board would be motivated to sell subsequent rounds at higher prices, and round 1 investors would be rewarded (compared to subsequent investors) for their risk-taking and for parking their coins for what seems like an eternity in bitcoin-time.  Whether that reward would be adequate compensation is, of course, unclear.

I share Kyune's concern that Round 1 investors don't seem to have much incentive to sit and have their bitcoins do nothing for X amount of weeks.

I currently have 4000+ shares of Kenilworth but I'm getting a little antsy since I'm not seeing the volume pick up at all.  Meanwhile I could have tripled my investment if I had put my money in ASICMINER or CipherMine.

Registering on a BTCT.co is a must.  There needs to be more exposure of this interesting opportunity.

A mining exploration company, seriously guys. If you guys know anything about Australia there are 100's of mining companies which you can invest in and most of these companies don't come even close to succeeding. If you are investing in this company you are a crazy crazy gambler or just ignorant of reality.

(I am an Australian share-market trader, (commsec)

Forgot to add: Using bitfunder vs commsec or any other trading platform that is legitamte in Australia. The reason why these guys are using bitfunder because they don't have to go through any red tape which would prevent them from starting such a absurd venture. Hence making it easy to fudge whatever they please.

Kids this is the real world.

Excellent presentation.