Comparing pre-CR with post CR multiples is an irrelevant exercise...there had to be a CR so no real point. I agree that perhaps they should have waited for a higher SP, but no doubt the company had a reason for bringing it forward (I see a large Swiss investment bank is now a substantial shareholder - Julius Baer).
But if your worried about it, exercise your rights and your 3X bagger will give you an equivalent moentary return to a 5X bagger since you have more shares. Obviously a higher capital outlay but you still get the equivalent return.
Lets ALSO remember that quite a bit of the capital raising was for exploration purposes ($11M). If this exploration is successful (and its extremely high probability that it will be), then add a few multiples to the SP...all of a sudden the CR starts to look much more attractive.
As for CON notes...they were considered as far as I know, but company ditched them...smart move imo. They are disgraceful things for junior companies to issue!
Cdchi1
KGL Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Held
