Well, at this stage we can just speculate. I am not an expert, but what I suspect is:
- They've made some progress in production, but just in the range of 2-3 Kt/month (in April it was 1 Kt/month)
- So the lenders are not happy with the progress, so are not willing to approve the 10 Mill undrawn facility.
- Given that KLL now estimates that needs more time and $ to get up to 5kt/month (probably Sept) now will need extra funds to get across the line
- So they need the suspension to go to market and see options to get roughly 20mill in extra funding.
- If case they don't get any interest, the banks will pull the plug (VA)
The difference with SO4; is that KLL is actually producing something, just needs some more extra cash to tweak the plant - that put it in a significantly better position than it was SO4 to attract some interest.
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