post-issue share price 0.165, page-8

Its still great value and we knew CR was coming. We didnt know the exact timing/price/amount that would be raised.

I think the point he is trying to make, and what i meant by ROI is :

(rough numbers)
Pre CR:
sp = 19c NPV $1 ie 5 bagger.

Post CR
sp = ? lets say 17c, NPV 50c ie 3bagger

Obviously rough numbers. The sp may exceed NPV or trade at a discount, but you get the rough idea.

For a new investor considering buying KGL, the attractiveness is less now. Ofcourse we knew they needed serious dollars and this was always going to happen to a degree.

But was it brilliant? What about debt or convertible notes, or just issuing at a smaller discount.

13.5c is ridiculous. We were building up to something. sp was trending higher and forming a consolidated base, now we just stop that and possibly fall back.