"Who else would give a near bankrupt company 2.5 million with no security?"

You are right on Jimmi, KRY has no money yet this loan would be due June 30 if the investor decided no extension at that time. KRY has stated they are selling generic equipment that doesn't take them too far. We don't know the exact amount of the legal fees due them from the noteholders. The trustee just started a claim for their dues so something doesn't add up unless this investor thinks they were just throwing their money at a losing proposition. Doesn't make sense if they don't believe they are getting their money back. Strategic investor means they want to bring something to the project. That something is usually money IMO and they must think there is something worth investing such as KRY's contract, feasibility study, EIS and the equipment already designed for LC, oh yeah and I forgot the amount of gold there is :)