KRR stock price, page-7

So you don't think a capper is on the tools at the moment?

There is a loooooong time between now and end of July. And there is only 1 catalyst for the opps to be exercised and that is an outstanding PFS? Is that like to happen? Maybe. But not sure how outstanding it will be.

SP will need to be well over $0.12 to tempt people to convert with confidence that they won't have to sell as soon as they convert. So think maybe $0.15 at best to get most of them converted. That's a M/Cap of nearly $250m with $50m cash on hand. An ideal outcome, but by no means a certainty.

Maybe an underwriter might come in and underwrite the options if there is a very strong PFS, but not strong enough to get all the ops converted. Not sure of the takeover rules rules when options convert. Does it trigger an automatic TO if an underwriter underwrites options?

If it doesn't, then a buying 25% of a company thru converting underwritten options, could be a way of not putting the SP into orbit if 412m shares was bought on market, for example.

Nearly forgot. I dont see how you get to over $1m cash, I get around $929k, but not that big a difference.

Should have said in earlier post, AIMO.

HB