Correct me if I am wrong, but wouldn't a shareholder placement take a lot longer, cost more to do, etc.. as prospectus needs to be written up, holding dates, offer letters, payments and what not? It takes weeks to go through that.
This is only 3M, just some quick, fast and dirty money to get the program complete through to the completion of the current program and JORC status.
IMO it could be said they are doing this in the interests of the shareholders to expedite the valuation of the company's assets, and hence, a true reflection of the worth of the company and corresponding increase in share price as quick as possible?
At the same time, 35c ain't all that bad - this stock was trading at 20c not that long ago.
KNL Price at posting:
44.0¢ Sentiment: ST Buy Disclosure: Held
