Yeah, this has been a very sorry tale indeed. The writing was on the wall when the January quarterly report said that they were losing money mining and processing zinc, but for some reason punters ignored this and actually pushed the SP up about 20% over the following few days to as high as 39c. Still, Kagara has always been a a traders' plaything, so maybe it was part of the ritual. Anyway, the SP is obviously going nowhere north in a hurry until some big players decide that it should, and you can almost be sure they will shortly (for their own ends). At the moment all I see is small players continuing to lose money by buying stock up a cent or two, only to see it fall again soon after. I can't help wondering what the current SP would be if the announcement about the sale of LL hadn't come out. Presumably worse still?
Anyhow, sympathies to all involved. I lost a bit on this one over recent years. However, overall I'd rather still be in than where I've been for a while - stuck in the suspended BSM - another tale of no profit in zinc or lead. We all should have been content to trade the likes of BHP, RIO, the big banks, etc, methinks.
KZL Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
