Yikes!Not looking good at all. No wonder they released the full...

Yikes!
Not looking good at all.
No wonder they released the full year statutory accounts at 7:30 pm on a Friday night (last possible moment).
Short 25-30M, have to repay NS 8M plus by 25/11/2023, and another 4M plus by February 2024. Also owe preference shareholder 11M (NS again).
Don’t have enough for ongoing refurbishment of plant 1, and commencement of mining.
No loan in sight.
Have to share proceeds of any TAFTA money with Zurich, up to 55M plus interest.
Uncertainty like this kills share prices, expect 1.00 on Monday. Strangely might be a good swing trade if it does.

Surely they have a plan…..
They have employed a whole bunch of new executives, and are planning to mine Quartz in mid-October.
Surely they have a plan…..
RSK and JG 500k bonus (250k each).
Surely they have a plan…..
They continue to spend on plant 1 refurbishment.
Surely….

I do question the lack of disclosure to shareholders, obviously KCN are not alone in this. Taurus obviously didn’t like what they saw, and put a hefty premium on further loans.

Emergency cap raise looks likely, probably another 30M shares at 1.00 (if they can get it).

Not turning out to be the investment I thought it was - my mistake entirely. Let’s hope NS doesn’t end up with all the company by default.

Thing is if they can through the next 6 months, they should do well.

Will ponder hold versus sell over weekend.

What a mess.