Ann: Response to ASX Query Letter, page-12

This:

following the February Placement and the sale of one of the site option agreements (Potential Site Sale),
the Company forecasts that there will be sufficient working capital for KDP to become self-funding

So they forecast they could get sufficient funds from the sale of just ONE project plus this placement raising $1.5m to be sufficient for KDP to become self sufficient!

Note: They make no mention of any money from the rights issue, just the placement.

Note 2 that there would still be admin/corporate costs, etc for KPO itself however recent financials suggest that would be around $2m to $2.5m per annum. Meanwhile as each project progresses it becomes more and more valuable to KDP, which in the above scenario would remain 100% owned by KPO.