He is actually pretty correct with all of his arithmetic:
On yesterday’s SP close of $0.074, after the capital return to shareholders of 5 cents, leaves say 2.4 cents.
After the AGM if shareholders actually approve the Torrington acquisition (and it is no secret I hope not), 111,500,000 shares on issue.
He is wise to not count on a decision to mine and assume another 12m shares issued later.
So after the transaction the market cap of Krucible could be $0.027 * 111.5m or $2.7m, an all time low shareholder value; the future of KRB?
KRB Price at posting:
7.4¢ Sentiment: Sell Disclosure: Not Held
