gself my old cheese, i think is how you refered to me in your post, that's beore we start with the insult stuff.
What info have you based your modeling on, you must have access to KZL's inner workings and be insider trading. KZL have more info on AD Bay than anyone and they reckoned sub 30clb for Zinc.
Mungana will most likely be fully subscribed as the institutional offer opens in the morning and should fill in. How do you come to the conclusion they have only reached the minimum when the institutional offer has not opened yet??
Mungana is of the same style as ridgeway, which is a cash cow at very low grades, dont know where you get the info on Mungana being a dud. I spoke to kim at one of the AGM's and he said it would be a $300 to $400 an ounce mine and it was a potential sleeping giant if they keep getting +200m intersections. Ridgeway is the deposit most related in style to Mungana so that should be the model to look at when comparing.
Admiral Bay is Bigger and better than you seem to realise, they do not need higher grades when they bulk mine at the rates they talk about, i raised this with Kim at an AGM, he said it would have very low cash cost's, he also said to the shareholders they had been approached by every major regarding a possible joint venture, he said basicaly they had declined those offers until they could get more of an idea of how big it was.
As Kim has many millions invested in KZL and knows a hell of a lot more about these resources than you do, i can only trust in his judgement, when i do not trust him it will be time to sell out and move on.
KZL Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
