Yep i have taken out a lot more than i have ever put in, of coarse i am under water on my recent buys, as is everyone else.
Its a very ugly situation and only time will tell exactly what is going on, i am still of the view that they will be ok, they have to run leaner etc until things improve, while this will ensure survival it will be a poison chalice as far as most investors go, this route is not at all surprising, im sure Geoff Day was expecting it.
Problem for KZL is, they have always had to spend money acquiring assets and drilling etc to keep the pipeline full and growth plans on track, for this they get blamed for spending the cash reserves going into debt and ruining things, on the other hand if they sat on their hands and did nothing they would be crucified for not planing for the future.
Damned if they do, Damned if they don't. the same people that are slamming them now would be slamming them for doing nothing.
KZL Price at posting:
17.0¢ Sentiment: None Disclosure: Held
