mungana float - important dates, page-14

Over the past 12 months, KZL have become heavily dependent on GFTG to fund their projects and keep the company afloat. Without them it is fair to say Kagara would of sought bankruptcy protection. The lack of support from their own people i.e. the institutional investors and banking community is appalling.

There faith shown by the retail investors as proven through the MUX IPO is respected. In times like this it is strong projects economics that will outweigh potential impact of resource super profits tax.

Re RSPT: there should be a bank levy instead, and that money should be pooled into a national fund, and used to support the nation, and get us out of a budget deficit. The big 4 have ripped off retails customers over the GFC by charging borrowers with rates higher than their own costs! We've been paying more than the bank profits and why should we?? RSPT has devalued share portfolios, superannuation funds and guess who has lost again, retailers. Well done banks!

The miners who have struggled to borrow money over the past 2 years, they have had to repay their debts, reduce op cost just to survive. If you look at any small-medium sized mining companies, most of them have lost well over 100% - 400% in market cap over the past 2 years! That is reflected in their sp. If you're not earning and don't have a low debt/equity ratio, then you're considered worthless....as Mr Institutional Investor isn't going to support you, we're only concerned about ripping off the economy by higher funding costs! So what choice do miners have but to look for funding overseas. The government need to work on increasing lending by banks to small-medium sized caps. To see the nation and GDP figures increase - not tax them!

Back to MUX, the lack of institutional subscription is poor and is a reflection of the Australian economy as mentioned above, in that credit is still tight and institutions are not keen to part with their money.

It's great to see a visionary company such as KZL. They see through this smoke screen and think towards the future not the present. Just like they did in 1999. It was a bold move listing MUX and they've done it through the hardest of most recent times. One of the first Gold IPOs in Australia since the GFC. If the predictions come to fruition then it will not be long before the DOW kicks on to 12,500 and commodity prices rise. Some are predicting end of 2010, 1st qtr 2011.

There will be a time when demand will outweigh supply. Particularly in Zinc. As mines close, and others play catch-up. Continuation of projects now and ongoing investment is worth the risk IMO. These companies such as KZL will be in an advantageous position and ready to capitalise on world growth.

Shareholders and GFTG have put faith with KZL management and projects, I do hope that those who are patient and put up with this selling rout over the past 6 months will be rewarded in the long run.