Ann: Kin Successfully Completes Rights Issue Over Subscribed, page-7

I am just happy to see that they got the support they needed to fill the placement. The extra $3m does ensure KIN can pay for some serious drilling (after costs I am guessing, although it defies believe that so much goes to fees for things like this).

KIN had $13.95m as of Dec 31st (with $6.5m drawn from debt facility). The extra $3m gets them to $17m. Add in the rest of the debt facility ($28.5m) and KIN has liquidity of $45.5m to build the plant and get into production. As to whether that is all they need.... I will be honest, I don' think it quite is, but only when you take into account that their is admin/staff costs, plus the big exploration program they plan to undertake.
KIN could easily have raised $15m if they wanted to, but... they did not. I may not be a investing guru, but I have a decent understanding of mining companies, development and the issues that come with what is to come. My main beef is that they will require at least one more raising (or... take on further debt, but.. I highly doubt they will). Yes of course management will want to undertake the next placement at a higher price, but.. oh how sweet it would have been to actually know that KIN is fully funded, rather than close... but in reality will need a bit more to ensure they can pay for commissioning etc. Anyway, this will come back as a discussion topic perhaps around Sept? Unless we have a massive share price spike due to exploration etc. I realise that their is $5.4m in contingency, but... most of the projects I have seen built rarely come in under budget.

The new exploration manager has been at KIN for a month now, so I am hopeful that hes got his head around what KIN previously planned, versus his take on things. Surely rigs are being hired as we type?
They plan to spend $800k on exploration this quarter which is less than what I expected, but due to the extreme temperatures this will ramp up more so in the June Q?

The raising is now totally done and dusted, so at the least KIN should start getting the recognition it deserves, as the next gold producer after DCN and GCY this year.