BB, you have obviously changed your mind since your post of the 10th Feb
Past the half yearly, I was just taking a quick look at Nickel prices. They are almost back to levels seen 6 months ago and are up over 30% from the lows from October to December.
I reckon that could have motivated buyers for Lounge Lizard to get cracking and do a deal. KZL sounded quote positive in the last quarterly suggesting that several buyers has moved through to the tender/bid stage. That was around the point where nickel prices had already jumped 15%.
Amazing the difference delaying a sale a few months makes. Western Areas must be kicking themselves. For buyers to lock out WA now they'd have to offer 160 mill+ given the strong rally in Nickel prices the past few month or so. Big merger deals starting to happen too. Glencore and Xstrata and lots of zinc miners are being propositioned in Canada.
KZL Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held
