even the most loyalist of supporters, Patersons, who have been bullish on ZYL for god knows how long and got their clients in at 20c, have turned negative.
Obviously the company isnt going to put the latest research notes on the website but some of the highlights include:
overly complex transactions, management have stretched the balance sheet to an unreasonable degree, Mbila BFS delayed until end of 2013, unlikely to be able renogiate with vendors, no reason to accumulate, target price 5c
HWK Price at posting:
4.2¢ Sentiment: None Disclosure: Held
