82% of options converted by holders, page-33

juk

Thanks for that reply.

I live on the east coast so the goings on in WA are not familiar to me, except for the national names (Forrest, Gina etc).

I suggest you get on the phone immediately to Jon. He is overseas with another director. I am assuming he is making presentations. No idea if that is to raise more money or what the funds would be used. Hopefully not to acquire KMC at some inflated price.

I am not sure what my legal position is, but I have some understanding that discussions have taken place for PXG to be involved in KMC. I have no idea if PXG has accepted any deal or the terms. But it worries.

To put things in perspective, PXG is a small investment for me, and assuming I lose half of it this would not have much impact on my portfolio. I am just sick of losing money investing in dumb companies that I felt it was necessary in this case to do something.

I am assuming from what you have written that you have a substantial investment in PXG, so you have a stronger interest in ensuring the safety of your investment.

I suppose if PXG only underwrites for $1m, not too much damage would be done, and perhaps they would get some sort of deal that enabled them to gain access to some of KMC's assets if it fell over.

Have a look at KMC's half year report. Do you really think this company can survive? I have grave doubts.

loki