Personally I was expecting something better from that Norwegian band, the debut was an interesting form of mostly mid-tempo black metal, very cold and with a strong groove. Phantom is a weaker version of the previous work, the singer is like the Tulus experience, not too screamed.
I’ve read good reviews of that Moonfog release but I’m absolutely far away to be excited, some songs are boring, played without the necessary intensity. I don’t search in "Phantom" what Khold aren’t able or interested to do but I think that this kind of generally slow and rhythmic pseudo-black metal needs a great mood and involvement to be listened with pleasure. I’ve also read that the bands leader said to record the songs without previously meditated songs structure, but sometimes the results are approximate songs, that have forgotten a more refined work of arrangement and musical evolution. "Phantom" tends to be a minimalist album, a bit too simple for my taste, only some songs have a stranger atmosphere inside, someone said psychedelic, but I think that this influence is very, very covered by a rockish and doomish base that haven’t the same quality then the debut. The better side of "Phantom" are the slow-hypnotic moments, that sadly are few, the rest isn’t of my interest.