I bought KAS, 6 years ago and nothing progressed over the years. At the latest Pro Investor presentation, the CE painted a very positive picture but failed to touch on the finances. I raised the issue of their cash position and and the debt with Pala which the repayments were extended to 30/6/18 and the question of the company being a going concern as by the end of June they will have no funds to operate. As they intend to go into production within the next 18 months where would the capital and operational expenses come from. The response was that they had the likes of Toyota which has deep pockets. I do not think that short selling is the reason for the low prices but a show of no confidence in getting off the ground. Unless Management can come up with a definite plan on how they are going to achieve their goals, the sp will remain at very low levels.
KAS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
