Ann: Kingsgate completes $46M institutional placement, page-160

All I can see is the temporary damage tothe share price caused by the CR. The share was performing strongly asinvestors seemingly focused on the bright side of Kingsgate’s promising prospects.Or was it the product of algorithmic manipulative trading?

Certainly, there was no strategic mastersuper plan to teach crooked foreigners a good lesson by freezing them out of a heavilydiscounted CR.

I feel like I am going round in circles.As I have said repeatedly, there are question marks over the merits of the fundingmechanism opted for.

It is not that I do not have sympathywith management’s funding predicament. Not to speak of the trials andtribulations on the funding side that they have faced bravely and well, giventhe circumstances, for so many years now.

Who could blame them for wanting toseize an opportunity to knock the company’s balance sheet into much bettershape? I hope they can now sleep much more soundly at night.

Most importantly for me now, is that the CR and their funding plans enable Kingsgate tobecome a successful gold miner again.