Oh, I forgot to address one of the points you raised namely that nothing much has changed, well fortunately for me I didn't hang on and just believe the hype, I did research and when I discovered what the underlying facts were i ditched the stock pronto.
Now what has changed since learning about the overburdened balance sheet? Well lets see, 1)there are several hundred million more shares on issues and,
2)over 1 billion options plus,
3)it's 4 months closer to February when a solution to the bonds has to be found and,
4)its only 3-4 months away from the Pearse ore-body being depleted....
so again, i want to stress my key point and that is that this company will require an additional capital raise (to the planned$5m) else it will hobble along until 2018 when 1.2 billion options get exercised and by then it will have circa 3.8 billion shares, not including any issue to the bond holders (which at current prices may add another 2.6billion shares) so possibly a total of 6.4billion shares and what do you think the market cap could be? and what does that equate to for either 3.8 or 6.4billion shares?
For a punt with this risk profile, i want to make an absolute killing and for my mind, KBL in the absence of a major discover looks like a marginal play
KBL Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
