excerpt from the afr ..., page-5

I’m not so confident KZL will be recapitalised. I would imagine that at least 50M would be required to settle debts, employee entitlements ect. Probably another +100M would be needed to kick-start existing operations and allow sufficient funds to progress some of the development projects. Who’s going to put this sort of cash up and if they did it would most likely require a highly dilutive cap raising.

I would imagine that asset sales are more likely. KZL’s assets less debt should exceed the current 100M mark cap, so shareholders should get something around the closing share price.

PEM could be a potential suitor