KML kangaroo metals limited

vote no

  1. 17,216 Posts.
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    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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