recent placement

The share price was recently down in the 1.5cent range, and according to the quarterly cash flow, Kaboko had approximately 250k in the bank. Anyone reading that quarterly would have known that money needed (needed) to be raised quickly. Let us not forget the implications of the GFC.

I congratulate Jason on being able to raise money at 2 cents and issue shares to sophisticated investors and institutions that will be incentivised to get behind this unfolding story - especially those receiving the 2.2cent options which they still have to pay for. I accept dilution as an inevitable part of this stage of Kaboko's evolution.

It is also worthwhile reflecting on the percentage take up from shareholders in the last rights issue - if that was not fully underwritten then that would have been a disaster for the company.

Those posters who have an almost insidious outlook need to sell their shares if they actually believe what they are writing on this forum. The recent placement was an excellent achievement - if put in context - and the momentum is gathering.

Completing a JORC compliant resource is the next major challenge. From what is understood, there are millions of tonnes of manganese on our tenements and a mining future of in excess of 25 years is realistic. If the JORC goes some way to prove this then the recent placement will raise more money in the future than it did right now.

Jason is putting his own hard earned into the company. He is making a great statement by making on market purchases.

Keep the faith, put things in context and understand that genuine progress is being made here.