mining to recommence, page-8

It is my understanding that Baal Gammon belongs to Monto

So the administrator would keep all funds in a closing down operation.

With the commencing of mining at Baal Gammon and processing of ore from other sites.

It would appear that the administrators are in no hurry to sell at fire sale prices.

Also if you look at the copper and zinc charts things are looking pretty good Almost at year highs.

The AUD is down a fair chunk as well

So it is not hard to imagine that with a smaller operation KZL could be a going concern with a smallish investment

It certainly is not the time to give up.

All Surplus equipment has been sold

Taylor Woodings will have an update next week

Sale of Surplus Plant and Equipment
The formal Expression of Interest campaign in relation
to the sale of surplus plant and equipment closed on
4 July 2012. Grays Asset Services (“Grays”) are
continuing to liaise with interested parties. The
Administrators are continuing to liaise with Grays in
order to negotiate offers capable of acceptance.
An online auction for fifty eight (58) items of Plant and
Equipment commenced on 19 July 2012 and closed on
24 July 2012. All fifty eight items have now been sold.

IMOO