re: Ann: Maiden 32,000 t Cu Resource for Grif... This ann is a real boost.
I've been a KZL holder for a couple of years now and have been really wondering about the wisdom of my purchase over the past several months, at least up to about the end of March.
That is when I read Geoff Day's letter to s'holders (23/3/11) and got some enthusiasm back. I then decided to stick with my purchases (made mid 50cs end of 2009 and $1.16 Jan 2010)and wait in hopeful expectation. After all, here is a company that's SP ranged between $5.50 and $7.50 for about 20 months between Oct 07 and May 09, although it did drop to $3.20 at end of Sep that year. Then the GFC panic took hold and in one month the SP dropped to 50c. It had seen greatness once and it should see it again one day.
Whereas a lot of miners have recovered well since the end of 2008 eg Mt Gibson (up from 20c to $2.00), Kagara has trundled along at a very low price. In other words it is still at its GFC price.
With the excellent news today and the way the positive reaction has been, plus of course the GD factor and all of the other resources KZL has, the erstwhile high status of this company is on its way to being reinstated IMO. The ride back has started.
Just a comment on Admiral Bay and this may have been canvassed already on HC and forgive me if it has. I spotted an article in the SMH on 30/4 that China's Guangdong Foreign Trade Group and which holds 18.9% of Kagara's shares could be the JV partner. I think the Chairman Kim Robinson said this at the WA Mining Club and also to AAP. He was very enthusiastic about the future of AB.
Shady Merv
KZL Price at posting:
57.0¢ Sentiment: LT Buy Disclosure: Held
