Ann: Trading Halt-KNL.AX, page-71

Skrundarlow

Someone posted this earlier.... Looks to be from an email sent by the broker drumming up funds...

A report in AFR this morning confirmed that 3 brokers are seeking funds for the $11m CR


Key Points

·KNL is raising ~$11m via the issue of 47.3m shares at a price of $0.23/sh. This represents a 14.8% discount to the last traded price and a 19% discount to the 5 day VWAP.

·The funds will be used to;

-Examine the possibility of scaling up the Epanko plant from 40kt pa to 60kt pa ($5m),

-Commence a DFS for downstream processing including production of Battery grade graphite ($3.5m),

-Drill Epanko extensions to increase the resource,

-Start some pre development activities (water bores etc).

-Product marketing ($1m)