Kaboko MINING is issuing shares to raise money - who would have believed a listed company would do such a thing. lol.
I have no concerns with the capital raising whatsoever and will fully participate in the capital raising. My concerns were with debt financing and those fears have now been allayed.
Debt financing can be extremely expensive. 15% plus per annum which could potentially have a far more severe and negative impact on share dilution over the ensuing years. JB obviously considered the best option for shareholders and is getting things sorted. In exess of $5 million will give the essential capital to turn this from a concept into a reality.
The drilling results will be the kicker here - out soon and before the General Meeting. Things look better now than at the start of the day.
The most important thing is that capital is being raised - we need the cash to turn us from an explorer into a genuine producer.
KAB Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
