KGM 0.00% 1.3¢ kalnorth gold mines limited

Ann: Appendix 3B - Amended , page-2

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  1. 3,205 Posts.
    lightbulb Created with Sketch. 56
    I just read this. Company has created 25 million options at 8 cents to the 'private people' who lent $4 mill.

    So, at 12 cents share price, when options created, at 8 cents options, actually gifts 25 mill x 4 cents = $1 mill cash for giving a loan....

    on top of whatever interest rate is being paid.

    So KGM are paying over 30% interest to get $4 mill for six months.

    Very poor form to the shareholders. Very poor form.

    In the past KGM did the right thing always by shareholders. Now we have $millions for insider mates.

    Very, very poor form.
 
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