I could not find any mention of this CR being underwritten, and if I am reading this right then they will get much less than the $10.4m they have targetted.
The money is to clear debt and do more studies about the way forward. Sounds a bit like more gambling for existing shareholders, which raises the question as to why one would throw more good money after the past bad outcomes. What could the return per share be after all heavy dilution. As was said above, best to wait further down the track if you want to speculate here. Without a major discovery or much higher AUD POG, the share price is going nowhere.
I hope that the 3 large shareholders do actually fully participate and that a few others are charitable so that at least they raise enough to repay Sprott their USD3m loan.
At least the AUD POG is holding up very well as the AUD tanks.
loki
KIN Price at posting:
8.4¢ Sentiment: None Disclosure: Not Held
