That's not quite right. Lounge Lizard was sold for about 40-50% less than what people expected and in the end was sold for a 8 mill profit on what they put it in. Nickel is and also will be unfashionable for some time yet compared to copper and zinc and even aluminum.
Kagara's liabilities less assets leaves it with about 477 million of book value as of the last report and after some 130 mill of prior write-downs etc. Take 50% off that and shareholders are left with 30c a share. KZL have at least 34 different small to medium and larger sized zinc deposits alone. There is a lot a money in those assets. Einasleigh copper alone was worth 16 mill. There will be plenty of predators to offer more than 6 mill or 40% of the book value of these kind of zinc/copper assets.
KZL Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
