I think you are wrong with that statement, I think the fact that Base metals fell like a stone at the same time is more likely the reason.
There was a release done on the effects of the tax on certain miners and KZL would have been 4% better off under the new tax, some miners were a lot better off than that, many were hit harder, those with deep pockets have run a good fear campaign, i think we will find out in time to come that it was actually a good thing for Australia, why should the tax payer put in most of the infrastructure while the miners carry the profits overseas. the extra infrastructure would have made them more profitable in the long run anyway.
I really don't think we got the true story as it was fogged out by the Libs and the big miners.
KZL Price at posting:
67.5¢ Sentiment: Buy Disclosure: Held
