Looking at the 1/4 report, cash at the bank at the end of quarter is $ 2 mill. Cash burn from previous 1/4 was $ 2.8 mill.
Consdiring they are employing more geos and ramping the exploration up - where are they going to fund this?
Share placement is on the cards I think. I reckon they will want to raise at least 5 - 10 million issue at about 60 cents? More dilution on the way for shareholders.
I suspect someone will try and manipulate the SP to get a cheaper placement, especially considering what that range is sometimes and the low amount of shares that get traded on a daily basis. We could see the SP in the short term fall imo...
Your thoughts?
KMN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
