gwaihirWill the directors of KMC be taking up their full...

gwaihir

Will the directors of KMC be taking up their full entitlement?

In the prospectus it says that at this stage all directors will be taking up there full entitlement. CD must be sweating trying to find a spare 1m lying around to avoid dilution


The underwriting of the capital raising by Kwok and Lee is "conditional", so what are the "conditions" under which they can legitimately remove themselves from the underwriting agreement?

i think this is covered in the prospectus.

Who is, or will be, the MD/CEO of the company, post the capital raising?

hopefully the entire board will be binned (we need to wipe the slate clean and start again) and Simon Lee or someone else take the reins

What is the strategic plan for gold exploration, or mining development, going forward?
in prospectus they claim more drilling will take place but thats about it


jury still out on whether i will participate


how is this section.
This is outrageous
even if they pay MC Verde Minerals 0.5M they still get 10% of all profits forever more.
I would like to use more colourful language but the moderators are on my case


The Company has an agreement with MC Verde Minerals Pty Ltd for the provision of consultancy services to the Company. The agreement was established on 7 February 2011 and formed part of the assigned contracts and undertakings arising from the acquisition of the Bullant Project from Argent
Minerals Limited. The agreement includes a monthly charge of $20,000 and a quarterly net profit share based on the net profit of the Bullant operations at a rate of 10%, payable quarterly. The net profit is calculated in accordance with normal accounting principles. The Company can terminate the monthly charge under this agreement by providing two months notice and paying a $500,000 termination amount. The net profit share entitlement under this agreement cannot be terminated by the Company. MC Verde Minerals Pty Ltd has lodged caveats over the tenements comprising the Bullant Project to protect their
interests under this agreement.