first of all : 227m of total liabilities (not debt !). And yes it is 227m but against it are assets: $705m (incl $172m current assets). So as for financial position company does not look bad. Problem is in PROFITS (or losses if you like) and cash flow.
Balance at Dec 2010 was $529m, in Dec 2011 was $477m. Considering loss of $49m it is not tragic. Plus add $68m from the sale in Mar of mine that was not profitable. Then net position is actually (Mar2012): +$16m
I am not saying that the company is a buy - not at all - but it is not a bankrupt as some say ...
KZL Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
