Kings have not seen such big vol buying for a long time. Looks like the buyer/s makes no disguise about their interest in Kings. It is wonderful to see someone like OCJ increasing their shareholding more and more. From their parent website, they are also involved in steel plate manufacturing and trading. Looks like they want to be involved in taking a stake in the source of raw materials too. When you increased your exposure to any company substantially, you must:- 1)Have done your sum and work out the feasibility of the company assets 2)Ensure the mines will be successfully build
Just my opinion, what is $80m to build the mine in San Anton to a cash rich Chinese company? Even if they don't have that sitting around, they know where to find it in China. Being a substantial shareholder ( and increasingly substantial judging by the way they are mopping up the shares), they wouldn't like their % shareholding to be watered down by too dilutionary fund raising to build the mine. Everything is looking good for Kings.
KMN Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
