There will be a rights issue to current shareholders and then they will attempt to finance the other half through a bank. 3 banks had bid but is now on hold pending the outcome of current problems in the country. Things do appear to be settling down.
This is all stated in the Australian Small cap investigator report and the info is from simon Milroy.
Very risky play but if they do get finace this will be worth 40 cents minimum in 2012. Not a bad gain on current price.
KGL Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held
