Wal,Remember, it was the banks money. Just hypothesizing here,...

Wal,
Remember, it was the banks money. Just hypothesizing here, but if the nickel mine was collateral for the loan, then when the mine was sold, ANZ needed to be paid out.

With the rate of cash burn that KZL was experiencing, if they had kept the cash, it would have only delayed calling in the administrators by a month or two. Then debts would be much more than assets and everything would have been sold. At least this way, there is some hope (however small) of a resurrection of KZL.

I would regard ANZ calling in the loan a blessing.

HT1