[BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins

[Betatester]

When are raised funds exchanged for FIAT-money? Given the recent depreciation of Bitcoin, shares should already have gained value.
Do you have any strategy on dealing with BTC volatility?

[1714906692]

1714906692

[1714906692]

1714906692

[1714906692]

1714906692

[1714906692]

1714906692

[1714906692]

1714906692

[1714906692]

1714906692

[statdude]

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 availlable at time of posting

  911,151 still in the pot

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

Whats the difference vs available vs in the pot?

[Betatester]

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 availlable at time of posting

  911,151 still in the pot

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

Whats the difference vs available vs in the pot?

I made a mistake when posting this. 911153 sold, those 3957954 available were meant to be in the pot for investors. Fixed the post.

[tinus42]

I was doing a bit of research online and found this interesting page about evaluating gold mine investments, which may be of use to investors in this asset (especially people with no knowledge of the precious metals industry, which likely applies to bulk of the forum membership):

http://www.kengerbino.com/articles/12guidelines.html

[Prendergast123]

Kenilworth Exploration: Bitcoin Crowd Investing Meets Real-World mining
Vitalik Buterin | On 14, Jun 2013 - australia - gold - mining
Link: http://bitcoinmagazine.com/kenilworth-exploration-bitcoin-crowd-investing-meets-real-world-mining/

[101111]

The problem is it's not a mining company, it's an exploration company. VERY VERY VERY BIG DIFFERENCE. Most explorers by far do not find an economical resource. However some of them do manage to find a steady stream of speculators willing to finance them while they 'explore'. Do your research, it actually costs very little to register a company, and even less to say your going to find millions of oz's of gold, but you just need a $million or two up front first.

[101111]

I already posted this in reddit http://www.reddit.com/r/Bitcoin/comments/1gdbtp/kenilworth_explorations_your_thoughts/:

Just to help a bit with your research, Kenilworth say is they have 'an agreement' with an actual listed junior explorer, so not much to go on, but ...

"The obvious question for reasoned speculators now becomes, “How is it possible that 3,000 publicly listed companies are able to raise billions of dollars given that the odds of success are 1 in 1,000 for an OK deposit or 1 in 10,000 for the big deposit?” The simplistic answer is that Mother Nature has been very generous to exploration geologists and by association, the brokers that make their living selling the dreams of buried treasure to the public by playing to human nature: greed and the susceptibility to an easy getting rich quick story. "

You gotta wonder what are the odds for unlisted explorers, or rather the odds that the speculators will see any return at all?

https://www.explorationinsights.com/pebble.asp?relid=2408[1]

If you want to give money away give it charity.

[Ukyo]

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

[DobZombie]

Just bought 2000-odd shares. My first bitcoin Investment (apart from my own mining equipment)   

So realistically when would we start to see dividends from this?

[tinus42]

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

They are literally betting the farm on it so they must be very confident of a positive outcome.

The backstory of the company begins at the turn of the century. In 2000, the Prendergast family bought a 96,000-acre farm in New South Wales, Australia, and in 2001 prospectors found a number of unexplored mineral deposits in the area.

http://bitcoinmagazine.com/kenilworth-exploration-bitcoin-crowd-investing-meets-real-world-mining/

Patrick has a large 94,000 acre property "Kenilworth Station" that he will use as collateral.

http://bitcointalk.org/index.php?topic=222746.msg2363431#msg2363431

^{I assume this is the same property and the 96,000-94,000 difference is due to either a typo/factual error or they sold 2,000 acres in the last decade.}

[Bonam]

Just bought 2000-odd shares. My first bitcoin Investment (apart from my own mining equipment)   

So realistically when would we start to see dividends from this?

How long to go from preliminary exploration to profitable mining? We're talking a few years before you see any real returns...

[DobZombie]

So realistically when would we start to see dividends from this?

How long to go from preliminary exploration to profitable mining? We're talking a few years before you see any real returns...

I read that as...

How long is a piece of string?

 

[101111]

Hmm,

I think the difference is that they have already found traces of Gold on their land.

-Ukyo

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

[MrMochi]

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

You bring up valid points.
I had not actually noticed the 107 g/t.
But this could just be a mistake
Maybe it should read 1.07 g/t.

To further staff this idea I checked the other documents for spelling mistakes.
You'll find both Prendergast and Prendegast used for the same person.
We'll also find the 107 g/t mention there.
Which really stands out as the odd number.
Because the other findings seem more realistic.
So should 107 g/t be a mistake and really be 1.07 g/t.
It seems strange that they wouldn't mention the 2.2 g/t they've found.

A company can't afford to make mistakes (or mislead) like this.
107 g/t has been mentioned by Prendergast several times now.
Enough chances to correct this mistake.
So I would assume he knows little of gold extraction.

We could also still be talking to someone posing as Prendergast.
Maybe Prendergast (Leo?) could make a video talking about Kenilworth AND Bitcoin.
Because I no longer have any inclination to purchase shares.

[tinus42]

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

You bring up valid points.
I had not actually noticed the 107 g/t.
But this could just be a mistake
Maybe it should read 1.07 g/t.

To further staff this idea I checked the other documents for spelling mistakes.
You'll find both Prendergast and Prendegast used for the same person.
We'll also find the 107 g/t mention there.
Which really stands out as the odd number.
Because the other findings seem more realistic.
So should 107 g/t be a mistake and really be 1.07 g/t.
It seems strange that they wouldn't mention the 2.2 g/t they've found.

A company can't afford to make mistakes (or mislead) like this.
107 g/t has been mentioned by Prendergast several times now.
Enough chances to correct this mistake.
So I would assume he knows little of gold extraction.

We could also still be talking to someone posing as Prendergast.
Maybe Prendergast (Leo?) could make a video talking about Kenilworth AND Bitcoin.
Because I no longer have any inclination to purchase shares.

There is also an annoying error in the title of this thread: "Opertunity".

I wonder if on Bitcointalk you can change the title yourself or a mod has to do that.

[forensick]

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

really strange to have junior mining company trying to get funds from btc community. There is about 3000 companies like that with better drill results starving on toronto stock exchange... if the prices of gold and silver will be supressed by BIS, FED, ECB and other crony banksters, it is just waste of money. But maybe one day bitfunder will offer real producer of gold, oil or REE, that would be interesting, but not junior

[Betatester]

(..)

really strange to have junior mining company trying to get funds from btc community. There is about 3000 companies like that with better drill results starving on toronto stock exchange... if the prices of gold and silver will be supressed by BIS, FED, ECB and other crony banksters, it is just waste of money. But maybe one day bitfunder will offer real producer of gold, oil or REE, that would be interesting, but not junior

So what, I think the community should embrace any real world business that attempts to fund itself through Bitcoins. Just as we want every vendor to accept BTC payments.

Read the posted documents and decide for yourself. Prendergast123 has answered questions about this IPO thoroughly, although he has not posted for a while. My impression is this business is totally legit. The owner has a long and successful business record in various fields and is apparently open for new ideas.

[Groc]

Sorry, wrong exchange. That's a dealbreaker for me.

.b

- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -

This stock should also be listed on the BTC Virtual Stock Exchange (https://btct.co/)

[skitchen]

Sorry, wrong exchange. That's a dealbreaker for me.

.b

- Could you elaborate on that?
Also thank you for your comment.- All questions and comments are welcome -

This stock should also be listed on the BTC Virtual Stock Exchange (https://btct.co/)

I sent a personal message to the OP asking if they were planning to trade on any other exchange, the answer was basically: 'no, but it would be brought up with other parties involved'.

I refuse to use wexchange which in turn knocks out bitfunder.

[Prendergast123]

really strange to have junior mining company trying to get funds from btc community. There is about 3000 companies like that with better drill results starving on toronto stock exchange... if the prices of gold and silver will be supressed by BIS, FED, ECB and other crony banksters, it is just waste of money. But maybe one day bitfunder will offer real producer of gold, oil or REE, that would be interesting, but not junior
[/quote]

- All of the Mineral Exploration companies which you have mentioned and are referring too are exposed to a large number of daily working capital expenses and requirements, ultimately having a cash burn rate even if they stand still. Keniworth Exploration however, operates as a “virtual” mineral exploration company, with minimal third party direct employment and all the work is outsourced to consultancy companies. We also have our legal, accountancy and mineral licenses in place.  Therefore, following a tried and tested model used in Biotech – we can raise the funds to be later used to appreciate the assets of the Kenilworth Exploration EL's (exploration licenses), with the highest efficacy of funds used, expediated return of results and ultimately rewards to the investors.

- All of Kenilworth Exploration's reports for the funds, various consultants and mineral exploration experts which we will pay with investor's funds are available for full review.