We are trying to be open and transparent about these matters and would wish that KPC's management were too. We would suggest strongly that matters be taken up urgently with KPC's management whose silence has been deafening.
But as Gordon Toll has stated in his email correspondence with the ASX:
"The issue is not the terms of the deal - the terms are set out in black and white in the SPA and other documents. The reality is that KPC have failed to raise the necessary funds to close the deal and have no likelihood of doing so. KPC simply continues to obfuscate and mislead on this subject. Batys Kali by their own admission do not have any funds with which to complete the loan agreement referenced above. This lack of funds has been confirmed to us by the managing director of Batys Kali.
KPC blaming their inability to complete the SPA or the above referenced loan agreement on “the multi-jurisdictional nature of the transaction” is not the reality."
KPC Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
