Hi Dan, I believe it won't need much more 'spectacular' than the shortfall being raised in time - and I think that is well in hand (the $700,000 from the rights issue was nicely above expectation).
As soon as the $1million is in the kitty, and the Geolord cornerstone investment is activated, the KIN story goes to a whole new level. With the proven NAV ground added to Kin's existing tenements (including the exciting Kingfisher Nickel prospect), the valuation should cause a significant re-rate in market cap. (note very recent valuation at 45c per share).
Remember that Nav carried out a trial mining exercise (throught the Gwalia mill) to produce over 7,000 oz 4-5 years ago and made a margin of around $4m at that time - puts the Nav deal at $2.7m into perspective?
If there is a lift in the share price on completion of the cornerstone deal, then the potential for "sophisticated investors" to take up shortfall shares at 15c should quickly fill the issue. And if good progress/ rise in POG/ or success with exploration pushes the share price enough to activate the 19 million options (30c exercise) early in the new year - well, there will be a total war chest of about $10 m. Enough to keep the Kin team busy for while.
It has been a difficult time for small cap goldies in recent times to get funds together, and the Kin team have done a great job to put this all together. Best wishes to all that this gets over the line.
KIN Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
