When I try to understand what's happening it gives me the impression Kagara was expecting the refinancing with ANZ to go without problems. Perhaps ANZ demands are too harsh and this oblige KZL to explore other options.
I can't believe that with the assets KZL has (some that he can sell, some that are profitable and other nearly) it will not find a lifeline. Come on banks this is better than investing in subprimes or European bonds*.
I will sell only if there is a CR at a low sp or some similar bad news. If the company survives and with such panic it will be a very good entry point.
Finger crossed.
* PS: Just read that Germany needs 200'000 immigrants per year for the economy to continue growing. I will NOT buy 10y Germany bonds.
KZL Price at posting:
12.0¢ Sentiment: None Disclosure: Held
