Yet KML was supposed to need a reconstruction, and a new director was purported to say it would be trading at less than 1c if listed (knowing it would never be given the chance)!
But what will $18m be worth when divvied up by the new recapitalization syndicate?
If 320m shares on a post consolidation - 5c per share!!!
31c ripped out of current KML shareholders - for WHAT???
And to think - it was us retail KML shareholder who approached companies with sale proposals for the tenements, and the newcomers get all the loot.
And its all 'legal' What a shame Australia! What a shame!
And ASIC can likely do nothing about this. Today, for the first time I am ashamed of being an Australian. Why is this allowed to happen?
KML Price at posting:
7.5¢ Sentiment: LT Sell Disclosure: Held
