Gwaihir said:
"I hope that Roger Kwok is not a naive and good and decent man..."
He's probably good and decent- a quick google of him shows he's been involved in many community positions. He is only risking his own capital if the raising doesn't get over the line. Now, the question is, do these moneyed people *want* the raising to get over the line, or do they wish to invest their own capital,and take up most of the underwritten shares? The underwriting agreement will be interesting to read - will it have "out" clauses that make the underwriting look shaky? Or will it be like AXM's underwriting out clauses (it's virtually impossible for the AXM underwriters to get out now).
This is going to be a long process with KMC, but Mr Kwok wouldn't go into it unless he thought there was a quid to be made. Maybe he'll be satisfied with the 4% free- which is less than he could get from a bank. KMC was lucky to find him, but maybe he'll be lucky, too. The thing is, if KMC is being "valued" (or priced) @ 1c on care and maintenance, then what will it be priced at when it is back mining again? When recapitalised, the company will have no debt, and maybe there'll be new members of the Board (that's just a guess), to make sure the same results don't happen again.
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