On May 2nd Beacon Securities sent out this as part of their commentary on Kaminak (KAM.v):
we maintain our view that the Coffee project will ultimately become a
mine, we see limited upside potential for KAM shares in the coming
quarters – a combination of the strong share price move over the past 2
months, and our expectation that the Coffee
Project will transition to the permitting phase in H2/16. As a result,
we are downgrading our rating of KAM shares from BUY to HOLD.