The volume of Kasbah Resources shares traded has fallen this month to the lowest level since 2009. This is noteworthy because Kasbah had been among the best positioned emerging miners listed on the Australian exchange. Now, it is awkwardly poised as investor interest subsides. The company did have a clear investment proposition based on development of the Achmmach tin project in Morocco for which it has produced a development plan and completed a feasibility study. The market cap of $10 million now better takes account of the development risks but, over the past two years, periods of occasional price stability have given way to a downward trajectory. Recent price stability, based on a lack of trading, highlights a possible repetition of this pattern. The company has also decided to put its development plans on hold while it waits for more favourable capital market conditions and better project financing terms. Investors cannot be sure that development will be initiated within an acceptable investment timeframe heightening the vulnerability of the company to further price downside.