looks healthier, page-31

I don't think letting the number of shares on issue in the company should dictate your trading. Admittedly, yes, there will be occasions when it will be a significantly detracting factor, but let's put it in the current context of KMC:

- The 1.3 are tightly held by 3 main holders. Therefore, the register is still going to be tight.

- The 1.3b shares on issue provides some insights into the Management (mismanagement) of the company previously. If you go through the company timeline with the previous capital raise at 8c, the recap at 1c indicates someone was still happy to come in and breathe life into asset (even though it meant a huge amount of scrip on market.)

- Any subsequently raising plans will be very mindful of creating any additional scrip (since why would Lee, Kwok, Bowman, etc) want to dilute further?

- There will also be a market for these "penny dreadfuls", which capture the attention of speculators on nice moves with accompanying volume.