Topic: [BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins - page 8. (Read 54772 times)

We are pleased to announce that Kenilworth Exploration Ltd, has secured an investment of $250,000 Australian dollars into our IPO at a value per share of BTC0.0018. These funds will be available in September together with funds already invested by our current shareholders. This now gives us sufficient funds to initiate our Electromagnetic Survey (EM) using Helitem Technology for certain portions of our three EL's. Helitem is the worlds most powerful time-domain electromagnetic system, ensuring the greatest depth of exploration possible for any electromagnetic system.

The IPO will remain open at the current offer price as this EM survey commences and the IPO (Round 1) will close on the presentation of our survey results in approximately four months. Our initial EM survey was budgeted to cost $456,663 Australian Dollars however this did not include supervision and analysis costs, so our current program will be reduced in size and be very targeted.

We intend to complete the full EM survey area following increased investor confidence with the release of the results in four months. We appreciate that investors on the bitcoin exchanges have been cautious in their support of our IPO. However, we believe by staying the course and proving the presence of mineralization we will build confidence in the permanence and long term value of our mineral assets.