Its been exactly 12 months since the last raising. Whats changed? We now have a pre feasibility showing 260 m net cashflow and shares being offered at 6 cents which is cheaper than last years 7.2 cents raising. Last year the company only managed to raise 10% (ie 887k) of what it could have accepted under the SPP which was a very poor showing. The company is desperate for cash and if a repeat of the poor raising last year is repeated this could be the end of Kings. There is really no new information this time. Yes there is confirmation of what the pre feasibility was touted as being but now the company wants another 9 months to confirm the pre feasibility.
Does anyone have any good reason to continue supporting this company or do we run for the hills?
KMN Price at posting:
10.0¢ Sentiment: ST Sell Disclosure: Held
