iron ore mining project upgrade, page-11

As you stated Blackburn,

"I still wonder about the price of any raising for the financing of the agreement. That should still be a while away and with more drilling and a scoping study in the next 6 months the market will not be able to ignore this story forever".

While these guys have a big future ahead, it is going to cost shareholders via dilution. Hence i have some orders in at much lower prices pending that inevitabl;e announcement.

In this market, if you need to raise capital you generally can if you havent failed creditors before. KGL can do this i think but it will mean dilution and i am wondering how far away that time may be. SO a low bid is my way of being in it and yet not exposed to a few cents dilution. I bought almost a year ago and sold at 14 cents last week and am hoping to be back in under 10.
Its a great project and failing any political (Russia is in the equation) surprises it will be a 50c - $1 at some stage in the future.

Not many sellers wanting to part with shares under 12 cents.

Good luck to all.

Cheers.