It wasn't great news but it wasn't bad news either.
Some points:
It takes time to organize a placement - 18c was a good price considering where the share price was when they would have started rounding up clients. Its certainly a good price when you think where the share price was a month ago. Its a great price when KAL is currently 19.5/20 LOL.
Dilution is minimal - its only a small CR. Anyone who didn't see a placement coming hadn't done their research as it was obvious given the amount of cash KAL had left.
Drilling results are not earth shattering but OK. Selene is a low grade pile of crap and thats exactly what the results show. People who were expecting better again haven't done enough research - this was infill drilling to sure up the resource not new exploration expecting to hit the motherlode as some here would have had us believe. This is a marginal deposit that might fly given the rising POG.
Too many people with unrealistic expectations hyping this one up and looking for instant gratification IMO. When the reality doesn't match the hype this is what happens.
KAL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
