Its sad to see. KZL was one of the very first stocks I ever bought. I remember it floated at a pretty bad time in the market. I ended up buying about 33,000 shares in 2003 I reckon it was, just after they raised some cash.
Back then, it was considered a "high grade" operation. I remember that very well, because it was one of the reasons I bought. Now days I see people calling them a 'low grade' outfit. Its a shame...
But there could be something it that for why KZL is where it is right now. I think they had small satelite deposits here, there and everywhere. Eventually, it all became too small and uneconomic. And I think they dug up all the good, high grade stuff.
Anyway, zinc was never popular, even when I bought, but as they grew, they kept finding more and more copper. The share price kept going up and up with the rise in commodity prices. I remember selling my last parcel at around 6$.
Back when I bought, I remember also Kim Robinson was mentioned a lot, as the guy who took Forestannia Gold (or something like that) from nothing to a producer. It was good management they said etc. And I believed it, because he did the same thing for Kagara.
But more and more I realize that in the mining game, more than anything, timing is everything. You have to make hay while the sun shines as they say. Because around the corner there is always the next downturn.
Good luck to shareholders. My overall feeling is that Kagara (the early 2000 one) doesn't exist anymore. Young growth company, low shares on issue, prospective high grade deposits, assisted by rising metal prices. That company is dead. Whatever is left in the ground there is not that economic. Same feeling goes for Admiral Bay. If it was that good, they would have done something with it or found a JV partner.
KZL Price at posting:
16.5¢ Sentiment: Sell Disclosure: Not Held
