A reminder - 70 million shares for $70k.
Current float is ~49 million shares.
So the current board of KML is valuing the entire company at around $50k !!
What is your shareholding now worth?
I paid $24k for my shares.
Management now value them at $240. Yes two hundred and forty.
Why?
Because they failed to deliver on promised cashflow from geophysics and the Sn mine?
A reminder - this was not a Force Majeure incident! Do they really expect me to wear that because of their misleading statements, imprudent fiscal management and project mismanagement?
Why not do a rights issue to existing shareholders at current prices? a 1:5 issue at 7c would raise $1.5m, but admittedly I would only support it if the current board quit.
Why should we allow dilution to nothing based on a 'potential' to introduce a project?
Due to lack of a tangible deliverable, I urge all shareholders to vote against this scheme, and to vote against re-appointing the board.
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- vote no
KML
kangaroo metals limited
vote no
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