the media: http://au.news.yahoo.com/thewest/business/a/-/wa/13058250/kagara-western-areas-call-trading-halt/
Kagara, Western Areas call trading halt
Shares in base metals miners Western Areas and Kagara have been placed in a trading halt with both companies citing a "corporate transaction".
The news has prompted speculation of a possible merger or takeover deal between the two companies.
Kagara was also suspended from trading today by the ASX after failing to lodge its first half financials before the February 29 deadline.
The company has struggled in recent months with falling base metals prices and rising costs causing a cash squeeze.
On January 11, it announced it had suspended operations at its Mungana underground zinc mine in Queensland.
Western Areas announced a first-half profit of $24.2 million, down 64 per cent, on February 14. Kagara shares last changed hands for 31 cents while Western Areas last traded for $5.68.
KZL Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held
