Ann: Dispatch of SPP Offer Booklet, page-27

Exploration is a long haul and you either have to keep paying for it or accept dilution. I think Kin wisely worked to add more deep pockets to the register a couple of years ago because it became clear small holders were not going to keep enough funding flowing. The company doesn't need the extra 3 million the SPP could raise just now, and if the shares aren't issued it retains the placement capacity for the future. I would be happy to see those shares issued in a few months at a higher share price once the drilling and resource results accumulate, which is on the cards. Maybe they will can issue them at .26. MC at .26 would be reasonable, so not a crazy notion. Either way no one can complain the big holders got special treatment and the next phase of drilling is well funded.