I always read the ann from august as only a proposal and not a definate. I am actually happy to see that Poli and the other chap who's name I can't recall atm are actually still going to be buying in. I was a little fearful that they would pull out completly with the state of the economy. From my understanding, the directors have not been very active with KAL in recent times, focusing on the other companies they are involved in. Apparently Poli and the other fellow (Vinere i think?) will be focusing more on the coy through further exploration activities of Norseman - hopefully improving the resource (grade) to something with a better profit line and providing more support and duirection for the company at large.
Their involvement can only be seen as a good thing - be thankful that someone has put money into the coy - it is a very hard market to get any capital atm. $1.5m should not be sneezed at - sure it will cost a few more shares but what else do you propose a coy do in their position???
KAL Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
