Engineers got the company into this mess and they were allowed to walk away scot-free. Now they are lining up for the fix but that's not coming for free either.
I had over 10 years experience representing and fighting for unsecured creditors in a large failed "experimental" mining venture. I have seen all the ins and outs of what governs the decision making around insolvent trading matters.
If you don't see an announcement on funding soon or a turn-around in the cash flow position of KML, you and all other holders will be left with nothing.
The resignation of Mr Sims (the CFO and acting CEO of KML)should sound warning bells for any sensible investor.
SilentO
P.S. Do your own research and if you have any doubts about any investment decision please seek professional advice.
GBG Price at posting:
6.0¢ Sentiment: Sell Disclosure: Not Held
