Rights issue is basically a placement. If its a big rights issue...

Rights issue is basically a placement.

If its a big rights issue I can imagine that a prospectus would need to be written up. An EGM would need to be held. All this could take 6-8 weeks to complete?

During this time if the share price falls below the rights issue price I can imagine that subscriptions will not be taken up.

If there is an equity raising I can see that a placement to sophisticated investors (maybe institutions) would be easier compared to a rights issue. If KZL can get a firm underwriter then a rights issue could be the way to go.

if the equity path is taken I can see that there has to be a significant discount attached. (possibly some options attached that many small caps do).