No - it doesnt sound underwritten.
IMO the consortium is probably broker related, who plan to reverse list some asset into KML for a potential pump and dump. Face it, it could even be a small sand deposit and they will make money from their 70 million 0.001c shares. Money for jam. Just need to attract suckers to buy the shares off them, but at 0.001c they have pretty much guaranteed a floor for their investment. lol.
The fact that BT is still pretending KML has a business is laughable.
99% chance the company will change it's name/code to try to get away from it's past, but I will keep on biting at their heels if they misstep. It is up to retail investors to warn others of directors who mislead investors and mismanage cashflow.
What they are hoping for is the standard emotional response - resignation from existing shareholders in the face of insurmountable odds, and then when they are free of the 'baggage' that will simply put KML in the 'nasty memories best forgotten' basket, the next spiv spin will begin.
Scandalous.
"The next Oxiana" ROTLF!!
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