With the industry currently in the doldrums and the market pressures at large, I would be very surprised to see any raising done at these levels (tiny mkt cap and SP at what is from memory 1/5 of the 25 cent IPO and near the original 5 cent pricing of the founding seed capital).
The feeling I get is that it is very much a matter of sitting tight and conserving funds until a direction becomes clearer. Fortunately KEN has never been a high spend / tap the market sort of play and because we haven't stuck our neck out we have the option to ride things out and preserve the potentially valuable projects we have been cautiously developing and de-risking. The cautious and frugal approach combined with the quality of the projects and team is something that has always attracted me to this company. The high share ownership of directors and other founders also provides comfort against unnecessary dilution IMO.
So while I agree with you that it would be great to see us push on with some development, as a long term investor I am happy to wait until the time is right.
Caveat: Just a mix of my opinion / feeling / understanding of where we're at ATM (ie. DYOR).
But if you are concerned, try giving DMcD a call.
Cheers.
KEN Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
