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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: saul mikaliukas who wrote (3262)1/30/1999 12:11:00 PM
From: Moe  Read Replies (3) of 5206
 
If you guys recall, there was a failed private placement at $.55 and $.30 over a year and a half ago. This "debt settlement" was really monies that was given to Kensington Resources for operating when it was cash poor. The VSE wouldn't accept these monies as a private placement so they classified it as a "debt settlement". A private placement would have gotten these people a share, and a warrant, whereas this debt settlement got them a share and 40% warrant.
When you really think about it, these guys should be compensated somewhat, because if it wasn't for them, then Kensington wouldn't be drilling today, imho.

If I recall the price reached $.12 at one time, and now a lot of you guys are complaining that $.15 is unfare. You guys could have easily picked up shares at $.15 and sold them at $.30. These guys have had their money in the company for a year and a half, and couldn't do anything i.e buy and sell.
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