Not likely to see KZL being a takeover, cant see the Chinese selling to BHP and Rio etc, if Admiral bay is a goer then they will want a stake in it without a major getting involved, also Kim has quite a few as well.
Looks to me that they had the intention of using the $26m from the MUX float to fund the pre strip of Vomacka, now the float has gone ahead but without enough raised for the KZL share of cash GFTG has stepped in to fund it.
I personally thought they would use those funds to finish the almost completed Mungana base metals plant and produce polymetallic from mungana, maybe they will now re jig it to produce gold and let MUX use it, would not surprise me as they usually will pull a rabbit out of the hat and surprise everyone, especially now they own such a large chunk of MUX.
KZL Price at posting:
52.0¢ Sentiment: None Disclosure: Held
