The roadshow is all about raising capital, as was last year's when North America was the target.
KML will need further funds by my calcs as they raised just over $2m of which $500k went to MCT, $500k was required to pay the next instalment for the Lennard Shelf projects in Nov 2018 and the balance of $1m is due to be paid by today.
So far we have been reduced to 81% of KML due to the seed capital raising and imo we will soon be down to about 70% ownership.
We were told Canada had a much greater appetite for funding projects like AB than Australia and now apparently they are especially risk averse.
Maybe the company will get Beer & Co to do another unrisked valuation ahead of the roadshow. 18 months ago it was 43cps, I wonder what figure they would come up with now.
Paterson Province/RIO/MCT, page-32
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