Your suggestion of a capital raise is really unfounded. That is not what the BOD prefer to do and they have stated that. Investec extended
finance to us when we were in dispute with Zurich and the position of the company was way less secure. Things have changed and IMO finance
from the likes of Investec is quite likely.
On the subject of price manipulation. Why so?
After the first run up to $2.20 on 26 October about 25-30 million shares were traded during that month. Many of those buyers will have a marginal profit and possibly a whopping loss. The second run up from a low of $1.30 on 2 November to the Jan 20 high of $2.40 involved another 25-30 million shares. Even more buyers in that second runup will be sitting on losses. So the uncertainty about the settlement and finance etc will make a
chunk of those buyers (some who are totally new to KCN and have little appreciation of the history) wet their pants and sell.
I see current weakness as pretty predictable.
That's not so say there is no manipulation in the markets but my view is a better explanation here
cheers
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Last
$1.28 |
Change
0.000(0.00%) |
Mkt cap ! $332.4M |
Open | High | Low | Value | Volume |
$1.28 | $1.30 | $1.25 | $330.4K | 258.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1544 | $1.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.30 | 1545 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1544 | 1.280 |
1 | 1545 | 1.275 |
2 | 26545 | 1.270 |
1 | 793 | 1.260 |
3 | 33502 | 1.250 |
Price($) | Vol. | No. |
---|---|---|
1.295 | 1545 | 1 |
1.300 | 116422 | 5 |
1.305 | 11545 | 2 |
1.320 | 13937 | 2 |
1.360 | 13000 | 2 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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KCN (ASX) Chart |