Ok mate. Its like this. Rather than look after all shareholders with a rights issue they went for a deeply discounted placement which will shore as hell fly out into the market soon.
They had a chance to blind everyone with a bit of mining costings (back of envelope would have done the trick) but avoided that and instead after grandastanding, put out the most boring presentation ever created.
The punter wants to know how much the company will make out of this project even if its a rough guide. Any chance someone at the company could run some basic numbers or do we already know and best kept to themselves?
These blokes are going to rattle the tin every now again for more money but don't look like coming out with any costings at least for half a year.
This is the worse time to own a spec stock, when its got a resource and now needs to plan how to mine and process it. This takes along time, is expensive and is boring.
I would imagine they will do a little bit of exploration work but every dollar that's diverted away from the infill drilling work and scoping work, is hard to replace.
As a trading stock, Kal should be, I imagine, on holidays for some time I would think
KAL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
