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tobiasroy

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19/01/23

17:15

Post #: 65778809
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Originally posted by RooBendigo: ↑

I doubt they expect to raise anything like 33%. This is basically a placement. SBM have not contributed to the last CR raises, and if they had committed to this one the company would have said. On the plus side there won't be anything like another 33% of shares issued and no one can complain that Delphi got special treatment.

I guess something might come up to move the SP well north of 5.5 before the take-up date, in which case I presume there will be bigger take up and a lot of arbitrage trading, but that will be unplanned if it happens.

I am happy with that. Basically means Kin can keep its foot on the throat of the DCN / GMD / SBM deal (my interpretation) as long as it takes to get a good deal.

There has been some attacks on the directors by some posters. One seems to be based on blaming the directors for not finding more gold. Another seems to be blaming directors for the day to day SP. Another seems to be that directors with experience of how things can go wrong for mining companies shouldn't be on the board.

On the first you might as well blame farmers when the rain doesn't come. I am not aware of any deficiencies in the drilling program, strategy, or competence of execution and suspect if the critics had such knowledge we would hear about it. On the second I will agree to disagree with critics about taking market theory to the extreme. IMHO if markets get it right it is (a) usually (b) only in the end and (c) only over time and at scale.The rest is all sentiment and guesses about other peoples guesses. On the third, I have no idea what individual directors actually contribute to board deliberations and neither do the critics, but the more directors know about how things can wrong the better.

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How close to $19m do you think they will get Roo?

KIN Price at posting: 5.4¢ Sentiment: None Disclosure: Held
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