I believe divesting non core low grade somewhat isolated ground and banking $20m in the process together with gaining rights to future royalties and more highly prospective land that is a natural extension of their retained Main Trend resource is an outstanding deal.
Banking cash and gaining relevant acreage this way was the obvious path for management given the seriously undervalued share price limited their ability to do a capital raise.
The drill results from PLS for the acquired area, albeit limited coverage, provided insight into better grades in a known area of good mineralisation.
Looks like a win win to me.
I believe divesting non core low grade somewhat isolated ground...
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Last
1.1¢ |
Change
0.001(10.0%) |
Mkt cap ! $28.83M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.0¢ | $198.6K | 18.59M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2726221 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 6859051 | 9 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| KAI (ASX) Chart |