It is clear the MRE will be a significant upgrade. It is likely that, by spending more at K, with 3 new deep holes, they expect a significant resource at depth. So they raise a mickey mouse amount at a discount...Only reason to me is if you want to give major institutions, or a JV partner for new projects, a small freebie to get them on board
Ann: Proposed issue of securities - XAM, page-11
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