It looks like following the shareholders meeting on 28 July, 312M shares have been issued to financiers as per earlier agreements and it looks like they are dumping them on the market to take a quick profit. About 110M have been sold so far today. Over the last few months, the SP has dropped from 3c due to this activity and I had assumed all the selling had finished. At 3c the SP shares were very cheap anyway, so we just have to wait until the financiers sell their latest and hopefully last trance.
This overhang gone, the SP should resume its rise to fair value. DYOR
KBL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
