I see you hat you did there hahah.. I agree with you.. the...

I see you hat you did there hahah..

I agree with you.. the reality is LKO with 35B outstanding on the register has to be the most capital bloated company on the ASX..

So unless we sell a billion shares on market at 0.001 to raise a million bucks (and it’s likely we need more), a capital raise is likely imminent..

The LKO bid volume total is circa 970m shares currently which is what I would expect it to be considering the fundamentals over there.. and let’s be realistic the market cap is 35m @ .001, it would take a mountain to move that north considering the bloat..

What this really means is the statements made in section 8.1 of the last couple of quarterlies about having “cash flow available” through relisted LKO holdings was really just another lip service statement for shareholders in my opinion....

The fundamental question is how is the board going to offload enough of the stake in LKO to raise enough capital to fund operations? Although rhetorical, the answer is they can’t, well not yet anyway...

The interim CEO is now burning 25k a month in salary/fees as it is (not withstanding the other working capital) let alone the capital expenditure requirement in delivering an exploration program..

Who is going to enter a JV with us? It would be a hard ask, and a helluva lot of risk..

It won’t be long before we are in the area of 10B shares outstanding ourselves.. Unless we have a consolidation, which is also highly likely in my opinion as it’s going to be hard to raise through instos with a bottom barrel pricepoint.. how can you discount under point one of a cent lol..