Urgh. A Cap raise.
Unless this is at a substantial premium and/or there is a solid / interesting cornerstone (very unlikley, and explains recent price action) this was a dudd move by management.
KAL just released an announcement that their RC drilling campaign will kick off in early March - with actual timeframes and program specifics. That alone with have given E79 a boost. As would have commencement of drilling at KAL. Even if they wanted to avoid potential dud results from any KAL drilling campaign (because that is always a risk) the next three weeks would have pushed the SP considerably higher.
In a booming gold market, with gold at ATH and multiple micro stock managers really are highlighting their deficiencies. Hoping to be proven wrong here.
KAL - https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=02913863
Urgh. A Cap raise. Unless this is at a substantial premium...
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