I really hope this Board knows what it is doing and has a...

I really hope this Board knows what it is doing and has a serious Australian institution lined up to take a placement of the shortfall of 71 million shares. Or perhaps they are so confident in the results of the updated feasibility study they know they will place them at a higher level now that the Indonesians are set at 10 cents.
At least with 71 million shortfall shares to place they have a carrot to offer for a broker to take this on.The Board may have the knowledge to build mines but I really question there understanding of how the market works.
The first thing they need to do is a presentation that sells the company not the geology.All the pieces are in place. But don't expect a broker to do the work unless there is a big fee involved.
Right now the carrot they can offer is a 5 per cent fee on the placement of the shortfall ($350,000) and say 10 million 18 month warrants with an exercise price of 15 cents. It is not difficult for an analyst to come up with a short term target of 50 cents a share.So we are talking a potential fee of $700,000 of which KGL pays $350,000.I hope there is a half intelligent broker reading this or feel free to forward it to your broker.
This is how they might sell it:
1.KGL is one of very few copper and base metal hopefuls with permits in place and measured reserves for the first 4 years.The open cut measured and indicated reserves at Reward and Bell bird stand at 7.7 million tonnes of which 5.6 million tonnes are now in the measured category.The grade is 1.9 per cent copper,46 grams silver and 0.4 gms gold so all up value of $260 rock at current prices.
2.According to the feasibility study released at the end of 2022, the all up open cut costs including transport and smelting is $108 a tonne of ore.
3.The new study is targeting a plant treatment rate of 2 MTPA so the increase in open cut measured reserves allows them more time to develop the underground and fund it from cash flow.And if you follow the maths above the cash flow from the open cut will approach or possibly exceed $300 million a year.
4.The project has reserves for 10 years at the 2 MTPA rate.All recent drilling indicates a longer life and a higher grade.They may have to reduce mill throughput without further near surface reserves but this looks as it will be offset but better grades to maintain cash flow.
5.After the close of the issue today KGL has 647 million shares out and is valued at $64 million with circa $14 million in the bank so an enterprise value of
$50 million.A valuation of 4 times prospective cash flow is over $1 billion.So it is a potential 20 bagger with amazing exploration upside when copper is
hotter than a buccaneers pistol!
6.The Board should pick up the phone and speak with Australian Super and find a way for them to put in $100 million to cover the equity component of the build.There are dozens of funds out there looking for this type of opportunity.Dilute the Indonesians and not gift them a higher percentage so the project qualifies for Government funding.
As the situation now stands,The Indonesian major shareholder has been able to use this issue to increase its ownership-- avoiding FIRB review and ASX limits on 3 per cent acquisitions every 6 months.
KGL has a 3 man Board.One of these works for the Indonesians.
The CEO is not on the Board.
The company does not appear to have engaged a broker or PR to sell the story.
NOT GOOD ENOUGH!