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0.1¢ kbl mining limited

Thanks mate, that is quite helpful for an amateur like me. Cheers

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bakerrrrrr

346 Posts.

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13/07/16

15:14

Post #: 18260690
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Originally posted by billc3012 ↑

I think there is confusion between the CR to raise $6M and the current rights issue.

The rights issue allows existing shareholders to buy a 2-year option get a share at close to the lowest price that finance providers have recently got. This is a good deal for existing shareholders and the price has been set. This should raise about $1M now and another $5M if the options are exercised (likely at the end of 2 years).

The board intends to raise $6M in the shortterm. $1M could be raised from the options rights which would mean that a further $5M is required. Currently the details of this CR are not decided. If the option rights are a success then it could be repeated to benefit the new shareholders. Clearly with a higher SP and more market interest KBL can get a better deal with the chosen financier.

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Thanks mate, that is quite helpful for an amateur like me. Cheers

KBL Price at posting: 1.0¢ Sentiment: None Disclosure: Held
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