This is a company in survival mode IMO. Could be a great turn around in the making or it could be a collapse in process. The jury is out until this fundraising effort is completed on July 27th. Here is a quote from their June 14th announcement,
"Although the Company has been successful in raising funds in the past, no absolute assurance can be given that the Company will be able to raise funds in the future. If the Company is unsuccessful in raising funds in the future, including the $6 million mentioned above, and there is no other viable alternative available to the Company at the time there is real doubt about whether the Company would be able to meet its ongoing obligations to creditors, working capital and project expenditure requirements. In such circumstances, the Company would be required to consider whether it is able to continue as a going concern."
There is a very real chance this company could fail!
It is seeing a spike on the announcement that they repaired the haul access road but prior to that it was trading at .004c due to emergency fundraising efforts. Practically every other goldie has been trending up since January. Not KBL. Probably still worth a punt, but that's all it is... a punt.
Key Dates
Lodgement of Prospectus with ASIC and ASX 30 June 2016
Notice to Shareholders ....................................... 1 July 2016
“Ex” date ............................................................. 5 July 2016
Record Date for determining Entitlements ....... 6 July 2016
Offer opens and despatch of Prospectus to Eligible Shareholders......... 11 July 2016
Closing Date of Offer .......................................... 27 July 2016
Notify ASX of shortfall ........................................ 1 August 2016
Issue of Entitlement Options .............................. 2 August 2016
Statements for Entitlement Options mailed ...... 3 August 2016
Commencement of trading ................................. 3 August 2016
KBL Price at posting:
0.8¢ Sentiment: Hold Disclosure: Not Held
