I applaud you for being one of the first companies outside of the Bitcoin mining market that takes the plunge and tries to raise money through bitcoin. Since I don't have any experience with real world mining I want to ask some general questions.
If the funding campaign on Bitfunder is unsuccessful and not all shares are sold, what other methods of financing will the company turn to in order to fund the EM survey and drilling? I'm asking this because the market cap is very high in comparison to most other assets on Bitfunder.
If the survey returns a positive result the share valuation is expected to rise but actual dividends will not be paid until the business has been sold to a mining partner. Correct?
In case the business is sold for a lump sum will my shares be sold too and would I receive the proceeds in form of a dividend?
Topic: [BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins - page 15. (Read 54772 times)
June 03, 2013, 02:56:03 PM
June 03, 2013, 07:04:34 AM
I just wanted to say you guys are doing fantastic job with giving out information and answering questions, and wish nothing but the best for you all.
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
Q- Maybe you could explain what are the most likely or common problems for a company doing what you are doing.
Q- What are some of the possibilities for success?
I think this article from Forbes is a good starting point.
I shall place comments where Kenilworth has addressed these concerns and how we are pushing the envelope.
{ Kenilworth comments }
THE DISCOVERY INVESTOR
By: Christopher and Michael Berry
Link: http://www.forbes.com/sites/discoveryinvesting/
Perhaps the greatest challenge an entrepreneur faces is funding an operation once a business is up and running. I focus my analytical efforts on the discovery space, predominantly the junior mining sector – an entrepreneurial space if there ever was one. We’re big believers in the idea that a high quality discovery leads to long-term wealth creation – both for the entrepreneur and the downstream investor alike.
{ Kenilworth is also a big believer in long-term wealth creation. We believe along with the consultants that we indeed have a "quality discovery". This can be seen in the results generated to date, and also our independent valuation.}
The overwhelming majority of these early-stage public companies generate no cash flow, revenue, or earnings. They exist solely at the whim of friends and family and the financial markets willingness to fund a potential “world class” discovery (a high grade gold deposit, for example). This style is akin to playing the lottery where all you need is “a dollar and a dream.” Though the failure rate of most of these entrepreneurial efforts is high, the success stories can be legendary.
{ Our find of 107/gt Au-Gold in our diamond drill has been described as legendary. }
The graveyard of junior mining companies is littered with stories of amazing mineral discoveries that never got the financing mix right. Sustainability, the company’s ability to remain financed to the point where it can begin production, is crucial. Savvy investors in this economy, not wowed by the next big thing, know that sustainability is the most important factor to evaluate when deciding where to invest. This is aside from the experience and capability of the entrepreneur and his or her management team.
{ Sustainability - I totally agree that mining juniors are struggling to survive, however these struggles are in the most part self-inflicted, by massive overheads and burn rates compared to actual expenditure on data acquisition and a scattering of tenements over different geological addresses, which cause a lack of focus. Kenilworth Exploration has already a single hit of 107/gt Au in our one diamond drill, we have no debt, and all our tenements are focused on one area which is now considered a strong mineral address. We have an independent asset evaluation at today's date of $19M. }
Perhaps the most important metric to be considered is the “burn rate”, or the rate at which a company is spending cash on a monthly basis. This gives you an idea of how long the entrepreneur can operate until additional cash infusions are necessary.
{ Kenilworth has a "burn rate" that is structured to last. Please review "Kenilworth Expenditure" }
An important question for a mining entrepreneur is: How to fund a company while not diluting existing shareholders and destroying the company’s capital structure?
{ Very well put and Kenilworth understands this, and has implemented a system of any increase in shares will result in a proportional dilution of all shareholders at the time of such increase.}
Generally speaking, a fully diluted share structure below 50,000,000 equity shares is what we want to see. This structure leaves room for growth, but this can vary based on the quality of the assets and capability of management. The lower the share count, the stronger the control position of the company. Equities and commodities in particular have been hurt recently from investor uncertainty and the “risk off” mentality gripping the capital and commodity markets. This has affected the ability of entrepreneurs to raise money.
{ Kenilworth has a maximum of 35,820,677 far below the stated 50,000,000. Our management team has the experience and are very capable please note above posts. }
Post the 2008 credit crisis, it has become increasingly difficult for these companies to raise adequate capital, though this trend has softened somewhat recently. The junior resource sector in Canada typically raises several billion dollars per year. So what are the financing choices facing a mining entrepreneur?
Crowd Funding: Not Enough, Not Fast Enough
With the advent of crowd funding in recent years, an entrepreneur may think that this is a viable way to fund a mining exploration company. Sadly this won’t work. Many of these companies need millions of dollars to fund exploration and development of a deposit, pay overhead, commission advanced economic studies, and pay for long lead-time equipment. Raising capital – even $1,000 at a time – won’t support this. Crowd funding is great for financing independent films, but not for multi-million dollar capital intensive exploration projects.
{ Kenilworth does not agree with this statement. It is up to you as Bitcoin holders to help in this respect. By funding Kenilworth you not only gain a long-term wealth creation stock but also advance the presence of Bitcoin (BTC) in what is and I'm sure the current financial industry is very nervous about. Time will tell... }
Equity and Debt: The Devil is in the Details
So we’re left with the traditional means of financing: equity and debt. These choices can lead to dilution of project ownership and eventually total control. There’s an old saying in mining finance that goes you take your dilution either in the stock or in the ground.
{ An old Irish saying "Bitcoins should follow the rainbow to Kenilworth" }
Each have their pluses and minuses and should be accessed accordingly based on a host of factors including how “tight” a company’s capital structure, the cost of borrowing, and where we are in the economic cycle. Despite historically low borrowing costs and the “culture of debt” we’ve embraced in the West in recent years, debt funding for entrepreneurial mining ventures is relatively hard to come by and when it is accessed, the terms can be onerous. Most of the debt funding we’ve seen in the mining space has been granted to companies with strong and experienced management, extremely high grade assets in safe geopolitical jurisdictions, and near term or current cash flows from production.
The equity raise is currently the predominant means to funding a mining start up. With the current global economic slowdown gaining strength, investment banks (the traditional lenders to mining companies) have become much more selective in funding exploration efforts and on stringent terms.
{ Kenilworth has started its IPO on BitFunder (Please see: https://bitfunder.com/asset/Kenilworth)
Shares for the first round of funding of $ 925,000 will be sold at 0.0018 BTC each.
If the converted total funding has a short fall due to the price of bitcoin of the $ 925,000 goal, then additional shares will be sold until the goal is met. }
Many of the financings we’re seeing these days are for smaller amounts of capital (sub $2,000,000) at historically depressed share prices. It is the low share price that should concern the mining entrepreneur as this leads to one thing which investors and management alike all dread: dilution. Raising money at a share price of $1 rather than a share price of $0.10 are two entirely different propositions. The higher the share price, the fewer the number of shares that are issued. This minimizes the dilutive sting to current shareholders. Dilution is a dirty word in finance and can do more to ruin the prospects for a mining venture than almost anything else.
{ Kenilworth agrees with "Dilution is a dirty word in finance and can do more to ruin the prospects for a mining venture than almost anything else". }
What Are the Alternatives? Creativity is the Key
So given that the traditional methods of funding start-up mining ventures fraught with risk, you must look at alternative methods to sustain and grow a viable business.
{ Enter - Bitcoin BTC - }
This is where the creativity of an entrepreneur comes to the fore. Some of these alternatives include joint ventures, rights offerings, equity injections, funding to certain milestones, and off-take agreements. Joint ventures are becoming more common as entrepreneurs reluctantly decide to join forces rather than compete for scarce capital. The alternative scenario we like to see is the off-take agreement where an end user of a given commodity (for example a battery maker who needs lithium to manufacture lithium-ion batteries) will agree to purchase the commodity once commercial production has been established. There are nuances to this scenario, as there are to all financing scenarios, but it’s up to the entrepreneur to navigate these choppy waters while protecting the business and keeping shareholders happy at the same time. With a strong case for economic growth to continue (albeit at a slower pace) in the emerging world, the case for investing in commodities is still sound. That, however, does not mean that all junior mining companies involved in exploration will reward shareholders. Both mining entrepreneurs and investors should focus on the financing mix of a company as it can literally make or break a venture and “blow up a start up” as we suggest in our title of this article.
{ Kenilworth has signed a Joint Venture Agreement with Thomson Resources Limited (AST:TMZ)
A must, is to review the video in this link:
http://www.abnnewswire.net/press/en/73386/Thomson_Resources_Limited_(ASX:TMZ)_Joint_Ventures_Its_Byrock_Project.html }
In relation to the potential success, I will quote from the Independent SRK Report:
Quote
Potential Values
As highlighted above, the Kenilworth licences have a 'good geological address' being, as they are, in close geological relationships to operating mines and other known mineral occurrences. It is SRK ES's opinion that the most suitable comparison, bearing in mind the current level of understanding, is the Peak Gold Mine owned and operated by New Gold.
Peak was discovered in 1980 and commenced mining in 1992 and has a current Ore Reserve of 570koz Au 67Mlbs Cu and Mineral Resource of a further 850Koz Au and 127Mlbs Cu. Epithermal mineralisation, hosted in shallow to deep marine metasediments, is Silurian/Devonian in age, possibly complicated by an intense basin inversion event in the Early Devonian, and is associated with multiple steeply dipping dilatational lenses with short strike lengths, narrow width and long vertical extents. The mineralisation model is of a shear hosted structural controlled Au/Cu precipitation.
In 2010 Peak produced 95Koz Au, and assuming the copper and silver bi-product production, an equivalent output of 136koz Au. Their current exploration activity is targeting satellite deposits within 100km trucking distances following the construction of 3D models of the Cobar region in collaboration with local universities.
In assessing potential values SRK ES have reviewed all public domain data on the Peak Gold Mine as well as data from certain databases SRK ES subscribe to, and produced a NPV style valuation for the mine. This constitutes the maximum potential value for the Kenilworth licences assuming 100% exploration success.
It should be noted that this “potential” value has been discounted following SRK ES's geological review towards what is considered a likely maximum bearing in mind the level of data available at this stage of exploration. In this case SRK ES would suggest a maximum potential value of approximately US$264 million for the Kenilworth licences.
As highlighted above, the Kenilworth licences have a 'good geological address' being, as they are, in close geological relationships to operating mines and other known mineral occurrences. It is SRK ES's opinion that the most suitable comparison, bearing in mind the current level of understanding, is the Peak Gold Mine owned and operated by New Gold.
Peak was discovered in 1980 and commenced mining in 1992 and has a current Ore Reserve of 570koz Au 67Mlbs Cu and Mineral Resource of a further 850Koz Au and 127Mlbs Cu. Epithermal mineralisation, hosted in shallow to deep marine metasediments, is Silurian/Devonian in age, possibly complicated by an intense basin inversion event in the Early Devonian, and is associated with multiple steeply dipping dilatational lenses with short strike lengths, narrow width and long vertical extents. The mineralisation model is of a shear hosted structural controlled Au/Cu precipitation.
In 2010 Peak produced 95Koz Au, and assuming the copper and silver bi-product production, an equivalent output of 136koz Au. Their current exploration activity is targeting satellite deposits within 100km trucking distances following the construction of 3D models of the Cobar region in collaboration with local universities.
In assessing potential values SRK ES have reviewed all public domain data on the Peak Gold Mine as well as data from certain databases SRK ES subscribe to, and produced a NPV style valuation for the mine. This constitutes the maximum potential value for the Kenilworth licences assuming 100% exploration success.
It should be noted that this “potential” value has been discounted following SRK ES's geological review towards what is considered a likely maximum bearing in mind the level of data available at this stage of exploration. In this case SRK ES would suggest a maximum potential value of approximately US$264 million for the Kenilworth licences.
Note: This report only covers three of the current six Exploration Licences.
June 03, 2013, 05:41:47 AM
I just wanted to say you guys are doing fantastic job with giving out information and answering questions, and wish nothing but the best for you all.
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
+1
Betatester
June 03, 2013, 02:22:38 AM
I just wanted to say you guys are doing fantastic job with giving out information and answering questions, and wish nothing but the best for you all.
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
I seriously doubt this is a scam, seeing how much personal information you are all showing as well as the level of responses you are giving. Though, sadly I will not invest in you guys at this time since I am not familiar with mining and mineralogy, so I don't really understand what risks there are and the possible roadblocks which could prevent success.
Maybe you could explain what are the most likely or common problems for a company doing what you are doing, and what are some of the possibilities for success?
Thank you for bringing some much needed diversity to the Bitcoin securities landscape!
June 02, 2013, 09:26:36 PM
Quote
Betatester
Jr. Member
Re: Kenilworth Exploration (Australian Mineral Exploration) Today at 12:44:04 AM #34
Q- Can you assess the contents of your claims without seismic exploration? I see only drilling.
Q- How many cores do you intend to drill?
I like the idea of getting loads of bitcoins in dividends should it crash down to 10$ again.
Jr. Member
Re: Kenilworth Exploration (Australian Mineral Exploration) Today at 12:44:04 AM #34
Q- Can you assess the contents of your claims without seismic exploration? I see only drilling.
Q- How many cores do you intend to drill?
I like the idea of getting loads of bitcoins in dividends should it crash down to 10$ again.
Hi Betatester,
We have moved over to this "Forum-Post" when we listed our IPO on BitFunder
(have a look, get your shares before its too late- https://bitfunder.com/asset/Kenilworth)
Ok back to your questions:-
- Kenilworth will be utilizing the world’s most powerful helicopter time-domain electromagnetic system. With a transmitter dipole moment up to 2.0 million Am2.
The high power, coupled with the low noise at the receiver due to its placement above and not in the centre of the transmitting loop, ensures the greatest depth of exploration possible for any electromagnetic system.
- We will have the only commercially available system routinely providing X, Y and Z receiver coil measurements for both the dB/dt and B-Field. Systems only offering Z-axis suffer from ambiguity of interpretation results for conductors.
The X and Y axes data provided will allow for more complete and definitive interpretation of conductors and allow for the discrimination of conductors by orientation.
The high quality B-Field data de-emphasize the conductive overburden response while enhancing the response of strong bedrock conductors.
Also utilizing a high sensitivity magnetometer to detect magnetic anomalies and map geologic units and structure. This system is provided with advanced GPS positioning and navigation control and a radar altimeter for accurate measurements of the height of the helicopter and EM system above ground, and base station systems to accurately record all required data for correction and evaluation.
Translation: Kenilworth will be capable of seeing beneath the earth to approx 300m to determine any area of mineralization. After these areas are identified, and cross matched with previous exploration data.
Please Note: Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill.
An Interesting Article:
Code:
Important progress has been made in our ability to integrate, process, and visualize increasingly complexdatasets in 2D GIS and 3D platforms. For gold exploration, important geophysical advances include airborne gravity, routine 3D inversions of potential field data, and 3D modeling of electrical data. Improved satellite-, airborne- and field-based infrared spectroscopy has significantly improved alteration mapping around gold systems, extending the dimensions of the footprints and enhancing vectoring capabilities.
Link: http://tinyurl.com/khs3j72- Further funds will be utilized (See Kenilworth Expenditure) to drill boreholes into the areas of mineralization identified by the EM survey, to determine the concentration (parts per million) of different mineralization zones.
eg: Copper/Gold/Zinc and rare earth minerals.
Also reflected in the SRK valuation:
Quote
Conclusion
The Kenilworth licences sit in a prospective geological address and as such hold potential to host shear/structural hosted Au/Cu mineralisation, as well as possible porphyry styles, similar to that seem at the Peak Gold Mine.
Using a number of techniques as described above, SRK ES have calculated the minimum, maximum potential and final SRK ES technical valuations for the Kenilworth licences, these are US$3.5 million, US$ 264 million and US$19.1 million respectively.
The Kenilworth licences sit in a prospective geological address and as such hold potential to host shear/structural hosted Au/Cu mineralisation, as well as possible porphyry styles, similar to that seem at the Peak Gold Mine.
Using a number of techniques as described above, SRK ES have calculated the minimum, maximum potential and final SRK ES technical valuations for the Kenilworth licences, these are US$3.5 million, US$ 264 million and US$19.1 million respectively.
June 02, 2013, 07:38:16 PM
Hey Furuknap,
As I stated, the issue was that the mail service provider was rejecting the emails. Not much we can do about that.
Yes, there is. I'll send you a PM, though, no need to clutter up an unrelated thread.
.b
June 02, 2013, 07:23:27 PM
Sorry, wrong exchange. That's a dealbreaker for me.
.b
.b
- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -
Bitfunder uses an external payment provider that looks extremely sketchy and has been having major trouble with simple stuff like accepting users with non-English characters in their names (like me). I don't trust the site so I won't trade shares there.
Which is too bad because I was looking forward to this IPO.
.b
EDIT: If you want to look at other exchanges that do not impose this added hassle and security caveat on your shareholders, BTCT and Havelock are both interesting exchanges. A listing on LTC Global might also be interesting as it will further increase your potential market for the shares.
Hey Furuknap,
As I stated, the issue was that the mail service provider was rejecting the emails. Not much we can do about that.
June 02, 2013, 07:07:07 PM
Sorry, wrong exchange. That's a dealbreaker for me.
.b
.b
- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -
Bitfunder uses an external payment provider that looks extremely sketchy and has been having major trouble with simple stuff like accepting users with non-English characters in their names (like me). I don't trust the site so I won't trade shares there.
Which is too bad because I was looking forward to this IPO.
.b
EDIT: If you want to look at other exchanges that do not impose this added hassle and security caveat on your shareholders, BTCT and Havelock are both interesting exchanges. A listing on LTC Global might also be interesting as it will further increase your potential market for the shares.
- Private Message
June 02, 2013, 06:59:06 PM
Sorry, wrong exchange. That's a dealbreaker for me.
.b
.b
- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -
Bitfunder uses an external payment provider that looks extremely sketchy and has been having major trouble with simple stuff like accepting users with non-English characters in their names (like me). I don't trust the site so I won't trade shares there.
Which is too bad because I was looking forward to this IPO.
.b
EDIT: If you want to look at other exchanges that do not impose this added hassle and security caveat on your shareholders, BTCT and Havelock are both interesting exchanges. A listing on LTC Global might also be interesting as it will further increase your potential market for the shares.
June 02, 2013, 06:56:11 PM
Bought 2 shares
- Someone (assuming you) literally did buy 2..
Thank you June 02, 2013, 06:51:29 PM
Sorry, wrong exchange. That's a dealbreaker for me.
.b
.b
- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -
June 02, 2013, 06:49:53 PM
Bought 2 shares
June 02, 2013, 06:18:50 PM
Sorry, wrong exchange. That's a dealbreaker for me.
.b
.b
June 02, 2013, 05:26:28 PM
 |
VIDEO : http://youtu.be/PE7mLxtjkE8
June 01, 2013, 12:02:37 PM
 After looking at the webinar, please feel free to comment and take our survey. Survey URL: http://www.anymeeting.com/SYID=ED52DD84814E - Reserved - 3,899,684 @ ฿0.00180 price per share June 01, 2013, 12:01:49 PM
KENILWORTH EXPLORATION LTD. https://bitfunder.com/asset/Kenilworth ~ https://btct.co/security/KENILWORTH | COMPANY | Kenilworth Exploration Limited (“Kenilworth”) is an active minerals explorer in the Lachlan Fold Belt of New South Wales (NSW), Australia. It is the Company’s intention to become a substantial gold and metals prospect holder in the region. The main three exploration licensed locations that are the subject of this capital raising include the Wilga Downs Tenement Project, the Byrock Tenement Project and the Yandilla Tenement Project. The Company has secured three exploration licences (EL's) in the Byrock region, with preliminary findings on the sites yielding positive results. These tenements are the subject of a robust valuation supported by aerial and ground surveys. Geological experts have advised that precious and base metals are the most prospective in the geological nature of the tenements. An independent geological valuation conducted by SRK Consultancy Ltd. found that the Kenilworth licences sit in prospective geological addresses similar to that of the world class Peak Gold Mine (owned and operated by NewGold ~Global intermediate gold producer listed on the NYSE [NGD: NYSE]), hosting shear/structural land formations that cultivate significant gold and copper mineralisation, as well as possible porphyry styles that are conducive towards gold-rich and copper-rich resource findings. Kenilworth's EL's have a median valuation of US$ 19.1 million with a minimum valuation of US$ 3.5 million, and a maximum valuation of US$ 264 million. With great prospects already assessed on each of the resource sites, a positive outcome delivered from exploration activities could multiply Kenilworth Exploration’s current market valuation and significantly increase its market capitalisation. Kenilworth Exploration has entered into a joint venture and management agreement with Thomson Resources Limited (ASX : TMZ) and will benefit from greater economies of scale and work with some of the most talented geologists and engineers that Thomson Resources has to offer. The Company will also capitalise on its newly acquired 50% interest in three of Thomson Resources’ key exploration licences in our region. As such, Kenilworth Exploration is seeking AU$ 2,775,390.00 in three rounds of funding in order to undertake the electromagnetic survey and drilling program as described in this information package, the expenditure of these funds will deliver significant value appreciation for shareholders. The Kenilworth has NO Debt and has an independent valuation of its current mineral exploration assets. Kenilworth Exploration Limited was created on the 27th day of April 2006. On the 24th day of October 2012 the Company was converted with the Australian Securities and Investments Commission to an unlisted public company. | FUNDING | Kenilworth is now raising $ 925,000 to fund the next phase of mineral exploration and development,which will include a high powered electromagnetic (EM) scan of our exploration tenements to specifically identify mineral deposits. This funding round will see a sale of a 17% equity position in Kenilworth Exploration Limited in return for an investment of $ 925,000. The Bitcoin investment will enter the company at a market-cap of $ 5.4 million. Note that the medium valuation of the asset is $ 19 million meaning that the initial investors are able to enter this funding round at $ 5.4 million. Within four months of raising the $ 925,000, we will have completed the EM survey and received a renewed valuation from an international mineral asset accredited company such as SRK Consultancy Limited. This new valuation will encompass not only our three 100% owned EL’s, but also our three EL’s in that we hold a 50% interest which we share with Thomson Resources Limited. This valuation would be envisaged to return a valuation many times greater than the current $ 19 million. The funds raised in the first round will be utilized in a period of four months to carry out an intensive and highly focused electromagnetic (EM) survey across our mineral exploration areas. This EM survey will utilize the world’s most powerful helicopter suspended time-domain electromagnetic system. The system is the state of the art and a premium survey technique developed to identify mineral deposits under the ground. The data generated utilizing these funds will clearly define Kenilworth's mineral reserves. This data will enhance our asset valuation. Once the mineral targets are identified then two additional rounds of funding will be sought to undertake a drilling program. The estimated drilling costs will be in the order of $ 1.85 million. The second round of funding for $ 925,000 will see the issuing of 4,022,304 shares and the 3rd round for $ 925,000 will see the issuing of 3,190,104 shares from the total of 35,820,677 shares currently outstanding in the company. Once the EM survey is completed during the next four months, Kenilworth Exploration Limited will engage the services of an accredited international mineral evaluation company, who will re-evaluate our assets given that we will at that time have located and identified all mineral deposits in our exploration license areas. The Board is extremely confident that the data generated will increase our asset valuation by a substantial factor during the next six months. Shares for the first round of funding of $ 925,000 will be sold at 0.0018 BTC each. If the converted total funding has a short fall due to the price of bitcoin of the $ 925,000 goal, then additional shares will be sold until the goal is met. | AGREEMENT | • Upon sale of assets, proceeds from sales will be distributed evenly among all shareholders, per an agreed and approved Dividend policy. • Any future profits/earnings will be distributed by way of Dividend on a monthly basis. • Any increase in shares would result in a proportional dilution of all shareholders at the time of such increase. | INVESTMENT RETURN | Once the electromagnet valuations of all sites have been completed, Kenilworth will seek out a mining partner. A mining partner may purchase Kenilworth outright for a lump sum, or may exchange mineral rights for shares of the mining companies company. In the event of a rights for shares trade, Kenilworth shareholders would continue earning passthrough earnings from the mining company's shares held by Kenilworth as long as they are provided. This means a long term payout, but also benefits from the mining companies other mines. When the time comes and an offer is made, a vote will be posted with the details on the options presented to Kenilworth. During any vote, all shares are counted equally. A majority vote will decide. | DEFINITION OF THE MARKET | The Company, in common with other companies participating in the mineral exploration arena, is affected by general economic conditions, including the level of interest rates, employment rates and inflation. Changes in government, fiscal, monetary and regulatory policies may also affect the business of the Company. The shares allotted under this fund raising, carry no guarantee in respect of profitability, dividends, return on capital, or value. These funding rounds are intended to raise sufficient capital to fund the ongoing development and working capital needs of the Company during its next phases of operation. The Company may need to raise additional funds (through a further capital raising or debt) at some future time after conclusion of the present funding rounds. Should such an unforeseen additional raising of funds be needed it will have the effect of diluting the interests of all shareholders of the Company equally. The ability of the Company to effectively implement and expand its business plan over time may depend, in part, on its ability to raise additional funds. There can be no assurance that any equity or debt funding will be available to the Company, or be available on acceptable terms. The Company is subject to various forms of taxation, including company tax and goods and services tax. An increase, change in the application or introduction of a new tax could materially affect the performance and financial position of the Company. It is common for companies to be exposed to a number of legal risks. These could include, but are not limited to, litigation risk, professional liability claims, industrial action and legal compliance. There can be no guarantee that the Company will achieve its stated objectives or that any forward-looking statements will eventuate; accordingly, an investment in the Company should be regarded as highly speculative. This information does not purport to be a comprehensive statement of all risks; an investor should seek and obtain professional advice prior to deciding whether or not to invest in Kenilworth Exploration Limited. | MARKETING STRATEGY | The present round of investment (first round) will see 75% of the funds raised utilized directly to undertake the most scientifically advanced detailed Electromagnet Surveys of all our tenements, and only 7% will be used on in-house salaries. Investors will see a ROI when we confirm our mineral deposit and we are acquired by one of the major mining operators, our timelines are focused and short, this is not a long term investment into salaries and overheads, it's an investment to confirm a mineral deposit that will be attractive to the majors. | ORGANIZATION & MANAGEMENT |  Patrick Prendergast - Chairman Since licensing his first medical molecule to a major pharmaceutical corporation in 1987, Patrick Prendergast has successfully combined scientific discovery with international business development and management. Born in Ireland in 1953, Patrick has academic qualifications in Microbiology and Biotechnology and has acted as Chief Scientific Officer of Hollis-Eden Pharmaceutical Inc., a NASDAQ listed Pharmaceutical Corporation, Ticker HEPH, from 1994 to 2000. Patrick was the inventor of all technologies held by HEPH, which at one time had a market capitalisation of over $ 500 million. Patrick’s relationship with Australia began in 2000 when he purchased a large farm, Kenilworth Station, in North West NSW, where he resides for some months each year. Since 2000 he has focused his business management skills upon developing Canopus BioPharma Inc. (Ticker CBIA.pk), a US biotechnology research corporation into which he has licensed over twenty of his own patented technologies. Patrick is Chairman and CEO of Canopus BioPharma Inc., which carries out ongoing medical clinical research in the areas of Hepatitis C, Mucositis, Sarcopenia and cardiac stent design. Additionally, Patrick has established an extensive research relationship with the Faculty of Life and Social Sciences at the Swinburne University of Technology, Victoria, Australia, since 2006. This research has seen the development of novel antibiotics and a successful clinical study of an anxiolytic agent, patented by Patrick. Patrick’s interest in mineralogy began in 1983 when he studied the anti-radiation properties of certain bauxite derivatives, a technology he licensed to a European government agency in 1985. Upon purchasing Kenilworth Station Patrick researched the previous mineral exploration activities in the area and undertook a private investment into reconnaissance and grab sampling. Twenty-four RAB drills and one diamond drill to a depth of 600m were drilled during this research phase, and this work confirmed the existence of potential mineral deposits in the region. Kenilworth Exploration Limited was formed in 2006, and it applied for exploration licences over available tenements in the local area. Patrick has been the driving force behind the formation of the joint venture with Thomson Resources Limited (ASX: TMZ) and their appointment as Exploration Managers, and consequently Kenilworth Exploration Limited is now poised to commence the identification, location and extent potential mineral deposits within the exploration licensees held the company. Patrick enjoys the excitement of discovery and the challenges of using the latest technology to unlock the mineral potential of the Kenilworth tenements. He looks forward to leading the Kenilworth Exploration team to success.  Leo Prendergast - Secretary Born in 1954 in Ireland, Leo Prendergast acts as Chief Operations Officer of Canopus BioPharma Inc., a US biotechnology research and development corporation (CBIA.pk). He graduated from Trinity College in Dublin (1978) with a Masters in Mathematics and Computer Science, and qualified with a Degree of Civil Engineering. During his college years he formed an engineering manufacturing business and focused upon tendering and supplying components to the telecommunication industry in Ireland and the UK. Upon graduating, he lectured in Soil Mechanics and Civil Construction at the Bolton Street College of Technology, Dublin, and at the Dundalk Institute of Technology. His engineering and mathematical foundations provide him with the tools to manage and coordinate project development strategies, incorporating legal agreement, financing and personnel. When his brother Patrick successfully licensed technology in 1987 to Élan Corporation, Leo joined forces with him and became the business manager for the fledgling enterprise. Leo has spent the past twenty-five years acting as Chief Operations Officer for the various biotechnology corporate entities formed by Patrick to develop his patented technologies. Leo enjoys the challenges of management and coordinating both finances and personnel, and acted as Business Development Officer of Hollis-Eden Pharmaceutical Inc. from 1994 to 1997. Since 2001 Leo has coordinated and managed all the geological work and drilling upon Kenilworth and its environs.  John Lee - Director John was born in Sydney, New South Wales, Australia, 1949. At an early age he took a strong interest in geology and natural sciences, and subsequently majored in Geology at the University of NSW in 1971. During the early 1970s he was engaged by Cundill Meyers & Associates, a leading mineral and petroleum consulting group, and worked on various mineral exploration projects within Australia, the Territory of Papua New Guinea, and Indonesia, focusing on copper and gold mineralisation. In 1974 he joined the mineral exploration team of Elf Aquitaine (now Total Group) and worked for many years on a variety of projects throughout Australia, focusing mainly on sedimentary hosted lead-zinc and copper deposits. He was appointed the South Australian Manager of Exploration in 1975, and in 1980 became responsible for the company’s Australia-wide exploration for sedimentary-hosted deposits, including management of the Bonaparte Basin lead and zinc resources. In 1982 John joined the petroleum division of Elf Aquitaine and was closely involved in the discovery of oil and gas resources in the offshore Bonaparte Basin and Timor Sea. In 1987 he joined a newly established company, Kingston Petroleum Limited, and as Managing Director he brought together a number of oil & gas projects in Queensland and the USA. Hydroilex Pty Ltd was established in the same year, providing consulting geological and geophysical services to the mining, petroleum and groundwater industries for some 25 years. Significant exploration experience was also attained in the Kenilworth region. In 2003 John formed Hot Rock Energy Pty Ltd, focusing on evaluating deep geothermal systems in the Sydney Basin. In 2000 he initiated PhD studies in the Sydney Basin, focusing on the structure and stratigraphy of the Hawkesbury Sandstone. Other business interests include property development and coal resources. John has been appointed CEO of Kenilworth Exploration Limited and foresees an exciting exploration program in the areas held by both Kenilworth and Thomson Resources. John will be responsible for the management and oversight of the joint venture with Thomson Resources.  Peter O’Neill - Member - Australian Institute of Company Directors Peter O’Neill has been in senior management for more than 35 years with organisations in Australia and overseas. He has significant commercial experience in management of companies at senior levels in manufacturing, fabrication, high-tech, environmental and financial services. Peter was previously Managing Director of TechStar Ltd (a public company listed on the ASX that specialised in funding & commercialising new technologies) and has been Managing Director of five other companies. He has been appointed Chairman of the Board with four companies and has been a Director on sixteen company boards throughout his business career. He is currently Chairman of two companies and Director of three public companies. Peter brings extensive management and directorship experience to the Kenilworth Board.  Edward Prendergast - Director Edward has over 30 years experience in civil infrastructure and environmental works relating to mining and oil explorations. He obtained his M.Sc. in metallurgy from Trinity College Dublin and also qualified with a degree in Engineering Science. Edward also has a M.A. in mathematics. He has operated as a consulting engineer in Ireland, Papua New Guineas, Somalia, Ethiopia and Australia and has worked with BHPB (MinEx), Sasol, Africa Oil, Africa Minerals and other entities. He has extensive on-site management experience and specialises in the area of environmental impacts of exploration works. Edward has already worked as an independent consultant with Kenilworth Explorations on its initial explorations in Australia.  David Bending - Director David Bending has 25 years of exploration, mining and corporate development experience with major mining companies including 14 years with Homestake Mining Company where he served as Exploration Manager in Latin America. He has also held various top executive and senior positions in other exploration and mining companies. He is fully conversant in Portuguese, Spanish and French in addition to English and is familiar with mining law, mining development trends and business practices throughout the Americas. He is a Professional Geologist certified by the Association of Professional Engineers and Geoscientists of the Province of British Columbia. John is an honours B.Sc. Geology graduate from University of Oregon and also completed his M. Sc. at University of Toronto in Mineral Deposits Geology, Geochemistry and Geophysics. | LINKS | Website: http://www.kenilworthexploration.com BitFunder: https://bitfunder.com/asset/Kenilworth BTCT.co: https://btct.co/security/KENILWORTH BitcoinTalk Forum: https://bitcointalksearch.org/topic/bitfunder-kenilworth-real-world-mining-opportunity-with-bitcoins-222746 SRK Valuation: http://www.kenilworthexploration.com/#!ke-srk/c1oke Share Structure: http://www.kenilworthexploration.com/#!ke-share/cejk Kenilworth Document: http://www.kenilworthexploration.com/#!ke-doc/c1skg Kenilworth Expenditure: http://www.kenilworthexploration.com/#!ke-exp/c1maf ( Forum [ url ] tags broke, I cannot even edit to remove them. Please copy and paste links ) | CONTACT DETAILS | After having read this Publication, if you then wish to arrange to meet with a Director or the Chief Executive Officer of Kenilworth Exploration Limited, then you should contact: Quote Quote Jump to:
|