The AFR stated that Kagara paid back 40 mill of the 62 mill debt facility.
Other debt included...
Guangdong (paid from invent.) -19.0 Lease/Hire Purchase Facility -11.0
It looks like they have restructured the debt finance facility with ANZ to be more like a normal business loan. i.e. longer-termed with lower interest and an increased credit limit. Thus the 2/3 payment now or 50% payment of total ANZ debt.
At any rate, it's business as usual until commodity prices pick up later this year and further in 2013. Those that bought at 20c or under will be buying BMWs in 12 months time.
KZL Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
