...I see signs of improvement...
There is only one sign - closing on Headway is an improvement. WHAT ELSE IS THERE?
Here are the issues:
1. They must raise cash. Dilution and a rollback makes the most business sense
2. Tax loss season is in full swing - it is possible that sellers held off waiting for a jump from the Headway deal - this hasn't happened so selling to offset tax profits is likely now
3. Capital markets still don't like juniors with no resources - the wing and a prayer bunch like KBG. These are dime a dozen (literally)
4. KBG have no management - Kyle is interim CEO and has no history of success, Ray is a bean counter and Bob a tech geek. Jim, for personal reasons, is out of action. Who invests in guys like these?
3P would have you believe they will wait until markets improve - this is possibly all they can do but TIME IS RUNNING OUT. They have no cash to pay for any exploration and haven't for 6 months - maybe they can put some airbourne work on the credit card but that doesn't move investors. Make no mistake the only realistic options are rollback with a PP and/or selling MGP shares. 3P will tell you there are signs of improvement but offers no detail on this - is he seeing this in his tea leaves???
Anyone can speculate that Headway has an HGZ or Menary or Cameron Lake or Darkwater will produce some decent assays - EXCEPT Headway isn't being drilled and hasn't been in 10 months, Coventry aren't even exploring the KBG claims, there is no money to explore Menary and Darkwater hasn't been drilled in 70 years. Until and unless KBG has some cash this can only get worse.