Kula (KGD) 85% and more shares are held by Geopacific and also they have there own directors on KGD's board. most of the KGDs shareholders have taken up geos offer. I believe only very few may be retail investors here and there may be holding the shares of KGD. So KGD is kind of subsidiary of Geo and Geos has been giving loan to them for there survival. Also i believe Geo has incorporated them in there books. Need to workout on woodlarks ownership in terms of numbers but KGD and GPR status is clear.
Woodlark gold, page-87
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