Over 20 million shares traded today, or should I say dumped.
The next highest was about 11 million on a day in early October last year, so this news today was massive by the company.
As a result I'm re-rating my short-term forecast down to 12 cents.
They need to call a trading halt tomorrow, probably to answer an upcoming please explain from the ASX, and then they need to suspend so they can do a capital raising at 15 cents before it drops potentially as far back as 10c to 12c - a raising at these prices will bring significant dilution.
They don't seem to have a grasp on the financial aspects of the project at all.
The market wasn't fooled today !!
The attempt to dress-up increased AISC and the need for significant new funding, under the positive umbrella of an increased ktpa does not seem to have fooled anyone, and to think it would have, is naive of management.
Was it Obama who said " ... you can put lipstick on a pig, but it's still a pig ... " (or something like that)?
Well ..... it does seem like the management of KLL today tried to put a "120 ktpa lipstick (spin)" on an increased funding and AISC Pig, but it fooled no-one, quite obviously, because it was dumped and down 14% today.
But at least the pig is still in the pen (and the project continues), and the rouge coloured lipstick has it prancing around like a queen in mud and honey.
Let's see what the directors and management can do.
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
- George Bernard Shaw.
C'est La vie - it is, what it is - such is life (and investing).
Gw
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