"In the event of a full or partial sale of Mineral Hill, KBL would look to apply funds to the early repayment of the 2 year term loan recently provided by Capri Trading Pty Ltd and, subject to ASX requirements, may look to periodically buy back on market some or all of its convertible notes (ASX Code KBLGA) for cancellation. The Directors and Senior Management believe that the initiatives already taken by the Company and implementation of the strategy outlined above will secure the future growth of the Company"
AND WHAT WILL THE LOYAL SHAREHOLDERS GET? Mr Wall will be getting 30% of his wage say $150,000 and shareholders get $0.05/sh from $0.35! WELL DONE Mr Chairman. I do not get it, smart people and get it so wrong - someone forgot to use a calculator. Copper price is still above $7,000 and the mine is not making money.
WHAT WILL THE COMPANY DO IF THEY SELL SORBY HILLS AND MINERAL HILL PROJECT?!
KBL Price at posting:
5.0¢ Sentiment: None Disclosure: Held
