There are just two images that Kibo Mining Plc (LSE: KIBO) shareholders need to focus on from today’s public announcement from the AIM listed focussed mineral exploration and development company:
Kibo mining shareholders must have the patience of a saint considering the amount of value destruction that management have been engaged in.
Granting options with an exercise price of £0.05 – considering that since the beginning of the year Kibo’s share price has fluctuated between £0.10 and £0.04 – is simply rigging the game in favour of management and at the expense of shareholders.
Of course the double whammy of a fresh issue of equity today also makes the financial pain for shareholders that much worse.
Welcome to the world of AIM investing.