I have been buying KZL at 60c and under and then selling at 64, 65 and even got 67 a few weeks ago.
My feeling is that there is a correction of sorts round the corner and that the local and international market feels toppy across most assets.
I would not be surprised to see KZL fall to low 40s in the short-term, which will present a great buying opportunity. Once Japan begins to ramp up production and construction efforts and China starts restocking later in the year, I think KZL will be able to easily retake 80c and above.
Some news in the interim on a JV partner for Admiral Bay could drive the price as it's presently not factored in as well as some better production numbers and improved earnings.
A word of caution though. If you are buying KZL you might want to make sure your not over-extended in other stocks because you might miss the chance to take advantage of the lows.
KZL Price at posting:
54.0¢ Sentiment: LT Buy Disclosure: Held
