Back Jan/Feb they announced that the mill upgrade was...

Back Jan/Feb they announced that the mill upgrade was over-budget and late. They had cashflow problems as a result. A new MD was appointed.

They agreed a payment schedule with their creditors. The haul-road collapse delayed mining, so they have fallen behind the schedule. They are working out a new agreement. Meanwhile it is getting muddy so open-pit mining is slowed down.

They have been on a knife-edge since the start of the year as we were told back then.

The backup budget is the convertible note issues, which gives cash as needed. Not nice but it keeps KBL operating.

They need to clear the cashflow issue and they hope to do this by Feb 2017 on the current schedule.

Will they succeed? I hope so.

DYOR.