The company did not do its job, they instead hedged their bets and had a portion of the oppies underwritten. They should have spent the dollars as soon as their was an issue achieving 99.5% vanadium purity. Spend a Million if need be to have 12 Mill come in.
Now SHs will pay for this when they start looking at the next CR.
Missed opportunity for everyone all round.
The company stated it would have the CS completed in June and that the SS was going to be right behind it. (This was the reason why I picked up options.)
They obviously knew they were struggling and failed to keep SHs updated on its progress.
The warning sign was as soon as they hedged their bets with the underwriters.
Guess who is holding this down ? Same underwriters or do we have a new major shareholder going to emerge or a T/O potential soaking up the oppies under 0.003 in order to gain a serious foothold without pushing the SP upwards.
Perfect opportunity for a new major shareholding or T/O potential if there is a player looking to make a move as you cant buy 123 Million shares on market without pushing the SP skywards.
Will be interesting to see if the oppies jump in price on Monday above .001 and .002 while the heads are still held down below 9 and 10c. Soon see if their is a T/O player out there on Monday as that is the last day the KRCOA can be traded.
Purchased more heads under .085c instead of paying 10c - The oppies will be a tax write off now and wont be selling them for less than 0.04c even tho my average is under 0.01c.
KRC Price at posting:
8.9¢ Sentiment: None Disclosure: Held
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