This is interesting insight into the lead up to ANZs decision to cut off funding to KZL. Funding simply dried up and costs rose, so they called in some credits or anything at risk of moving to the impaired side of the ledger.
However, the good news is the prediction at the end of piece.
Mr Kerr believes the Reserve Bank may have to cut the official cash rate below 3 per cent as banks' borrowing costs rise. It is currently at 3.75 per cent.
"They could easily cut below 3 per cent," he said.
"For now, I think the RBA will do another 50 [basis points]. I think that they'll either do it in June or July."
If that happens, the AUD will be under continued pressure and may well fall below 95c and if zinc recovers to 90c during this time, then we will have our minimum 5c and buffer to relist and restart ops.
Next year I think with the US election over that the USD will rise to the AUD in anticipation of a US deficit reduction and a possible US interest rate rise.
KZL Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
