IMO the best thing to do is to withdraw bids
That I do not recommend.
Canaccord has been revealed yet again as the place to go to get away a cheap and nasty issue. But this failed placement says more about KSN management . The MD claims to have been working on the acquisition of Mineral Hill since October 2020. He and his executive team have had ample time to make preparations for the intended capital raising and in the process to to procure a lead manager for what is a modest capital raising when measured against the incoming assets.So, in choosing Canaccord , which they have used on prior occasions is plain lazy. The next issue may not so be easy Kingston may find.
But going on strike to spite Canaccord sounds more like cutting off one's nose.
The quantity of loose, KSN placement stock must now be seriously reduced. It may be nil now.
Fully 50% of the 70m shares in the placement have traded and of the balance 12m plus 5m are in the hands of substantial shareholders.
That leaves 17m shares which I suggest are in the hands of shareholders willing to hold .
KSN may have hit its low for 2021 and 2022.
and yes I'll be submitting my buy order at 16 tomorrow.
