The only response I can say is 'at the moment' it is a very tight register.
The equity component for mine finance could be up to estimated $30 million dollars, maybe more. Placement at 20c, 15c or lower will dilute the registry significantly. One of the contracted off-takers may JV with KNL, another possibility, resulting in a lot off equity dilution.
Don't you think it's possible that any such placement will negatively impact current shareholders? Even if it was only half the $ needed.
Kibaran really is not in the exploration phase anymore. It's in mine development phase. The lull.
RAP then mine finance and then see where it settles.
Village Square Meeting, page-112
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