With SP under 40 cents there is no incentive to take up the...

With SP under 40 cents there is no incentive to take up the offer and that could stall the fund raising initiative.

Looking ahead to October, there is still the need to raise further funds to cover the $100m loan.

World metal prices may have already bottomed out but without demand for zinc/copper, prices could remain subdued until economies start to lift and that may take a few more years.

Currently the world is in recession but looking behind the facade, I believe that the world is actually sliding into depression. If so, there will be no quick turnaround.

Unless KZL can start mining gold and lots of it, I think it faces very difficult times.