"... has been a shocking fortnight for the company. First ... was cut from the S&P ASX 200 index. Then it sold it's nickel assets to WSA for a price below market expectations. The release of it's accounts was embarrassingly delayed as it switched to a new system - and then carried a worrying qualification about the company's ability to stay a going concern."
"At a closing price of 16.5c, Kagara shares are now trading below the price of the 1999 float Robinson led at 25c a share."
"The company expects to return to profitability by the end of the June qtr."
"Day says Kagara is in talks with ANZ about a new debt facility to meet current needs and says the company has no need to raise equity"
"With it's share price so depressed, Kagara could even prove an attractive t/o target for a buyer willing to take a longer term view. Wilson HTM analyst A Pedler says Kagara is being valued only on the basis of it's copper operations."
Geoff "Day says Kagara hasn't received any formal or informal approaches"
HT1
KZL Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
