Kin would have needed to raise capital ... this gives them potentially 24 million from selling GMD shares, including a $14 million profit in less than 12 months.
But the big reason for buying the DCN shares was leverage in Leonora consolidation. Acceptance of the TO offer can't be linked to a milling deal directly, because a TO has to offer every shareholder the same deal. But the board's decision implies to me they are confident about Kin's place in consolidated Leonora operations.
Strictly speaking the TO deal was with GMD, a milling deal would be with DCN. I wonder if GMD talked to Delphi directly ... they must have ... while talks with DCN about milling were between Kin and DCN boards ... i.e. two parallel but different processes, informed by GMD understanding why and Delphi took 10% of DCN in the first place.
Lets see what DCN have to say about re-starting the Mt. Morgan's plant ...
Anyway, GMD can have my DCN shares also. That should make their day.
Kin would have needed to raise capital ... this gives them...
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Last
5.6¢ |
Change
-0.002(3.45%) |
Mkt cap ! $65.97M | |||
| Open | High | Low | Value | Volume |
| 5.8¢ | 5.8¢ | 5.6¢ | $15.73K | 279.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8625 | 5.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.7¢ | 91000 | 2 |
View Market Depth
| Last trade - 15.41pm 14/06/2024 (20 minute delay) ? |
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Last
5.6¢ |
Change
-0.002 ( 1.75 %) |
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| Open | High | Low | Volume | ||
| 5.8¢ | 5.8¢ | 5.6¢ | 111828 | ||
| Last updated 15.29pm 14/06/2024 ? | |||||
| KIN (ASX) Chart |