"KBL Mining Limited ("KBL" or "the Company") advises that it has entered into revised payment arrangements with four of its largest service providers. As at 31 December 2015, these providers were owed some $17 million plus interest. "
the good news is they plan to be able to pay it off quickly
"Under the revised payment arrangements, all amounts due to these providers are expected to be paid by around October 2016."
good to see they are on top of the plant recovery problems.
"The concentrate filter is required due to the high clay content of the cons. The existing filter was undersized by 50%. In response, KBL is installing a near new pressure filter which it is expected, will double capacity to the original design. The underperformance of the CIL is as a result of a delay in the installation of a carbon regeneration kiln. The lack of kiln burning off foreign material from the carbon has resulted in the carbon not capturing the gold. The kiln is currently being installed and expected to be operational by month end. "
also glad to see they are in front of the curve. Highlighting the problem and solution before the numbers come out in the half yearly.
Stops a lot of speculation.
Gold star for communication
