To suggest that KZL is break even at these prices is drawing a long bow, they have increased the cash position to +$40m after the Mungana money is passed on, not to mention exploration expenses and the purchase of the SBM Tenement, this is not break even.
When you have a copper margin of + $1.50 lb and have hedged Zinc at over a $1 that is not just breaking even.
I would suggest that the sudden rise in share price is because they are making more cash than a lot of punters thought, i think now the penny is starting to drop.
KZL Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
