Bizarre behaviour by a company that is supposed to be using its equity capital to explore for gold and not roll the dice on buying minority stakes in other companies. I don't believe they are a substantial shareholder (>5%) and have only just pruchased their 1.6% stake. So what do they hope to achieve by owning 1.6% of Dacian when Genesis goes over the threshold and makes a cumpulsory acquisition of Dacian? They will just have to accept the offer and take Genesis stock and be an even smaller owner of Genesis. They say is makes sense and is a sensible strategic move, but courtesy of that minority stake, they just aren't in any position to influence any consolidation that is happening around them. It would be different if they acquired a blocking stake but they are nowhere near that. Really strange behaviour. To add insult to injury, they have probably lost about 20% of their 'strategic investment' given the price of Genesis stock has slid so much over the last few weeks. Board of Kin...come on guys, think it through more, apply your capital to exploration to make Kin a compelling target for any consolidation in the region. Stop acting like a merchant bank or a listed investment vehicle.
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5.8¢ |
Change
0.001(1.75%) |
Mkt cap ! $68.33M |
Open | High | Low | Value | Volume |
5.6¢ | 5.8¢ | 5.6¢ | $9.544K | 169.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 57375 | 5.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.0¢ | 473782 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 57375 | 0.056 |
1 | 15000 | 0.055 |
3 | 65592 | 0.054 |
1 | 188000 | 0.053 |
4 | 110100 | 0.052 |
Price($) | Vol. | No. |
---|---|---|
0.060 | 473782 | 3 |
0.061 | 369436 | 2 |
0.062 | 116949 | 2 |
0.064 | 87679 | 3 |
0.065 | 91666 | 2 |
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