re: Ann: Maiden 32,000 t Cu Resource for Grif...
So the bad management you refer to is the one that took KZL from a $5m company to a $1.5B company in a few short years, lets pretend the GFC never happened and blame it on bad management. You need to look at exactly why the company got hit so hard by the GFC, i think you will find that they were in a big growth phase that had them carrying quite a bit of debt, which was fine as they had huge revenue to carry it, when metals got smashed ( which virtualy no one saw comming) the revenue was gone and also the ability to service the debt.
Lots of comapanies got hit, OZL almost went down, as it was they lost the family jewels, Kim Robinson got us through it without losing any assets, at least we managed it with only a capitol raising, OZL also lost over $1b cash as well. Ive owned KZL since 1999 and Kim Robinson is a good operator and is very well respected in the mining community and management circles despite what you are trying to imply.
No person came out complaining when they were in debt and making a fortune they were growing rapidly under Kim Robinson, we get a GFC and we try to blame the woes on management.
It was Robinson who got lounge lizard for $25m, it was Robinson who picked up Admiral bay for peanuts, he also engineered the aquisition of the Thalanga plant and its tennaments, it was his and his managements hard work that got Mt Garnet off the ground back when everyone was saying why do you want to invest in Zinc. 5yrs later they were worth $1.5b. Sorry for the rant but it is an insult to the management that are resposible for Kagaras birth and rise to a mid tier company.
KZL Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
