23 months since kn discovery, page-3

I am not sure what to make of this selling.

It could be insider selling from Perth due to smaller than publicly expected field size. They have had the data long enough for some people to have an idea of the size and almost everything Perth related moves in a big way prior to the actual ASX news release.

Or it could be the final push down - burn a few shares to enable someone to pick up up to 70m shares at a big discount. It certainly is coming close to the final issue date and due to the destruction wrought on the SP by managements plan, I would have expected them to retract the planned issue via an ASX statement by now if it wasnt going ahead. But they have kept quiet, so everything must still be going according to plan. Question is - what is the target price? Tempting to dump some now and try to pick them up cheaper.

I am pretty sure KEY management are happy to draw salaries but unwilling to fork fistfulls of cash into this like the rest of us have, and I am pretty sure they dislike their current shareholders from email responses, so I am still expecting the issue to go ahead even if merely to get fresh loyal shareholders on the register at a discount to market. At least they will have some happy shareholders in that scenario.

Absolute WORST case scenario is it is merely a CASH GRAB - ie, not for a project but for cash due to expected cost blowouts. If this happens the shares will likely be propped and dumped by any new soph shareholder and we will be in the hole for years while management start whittling away the fresh cash pile. Hope I am wrong, but a few years investing in Perth miniing companies has tought me to prepare for the worst possible scenario. If this scenario were to unfold, I will be an eager seller in coming months.