resource rent tax will not impact kagara, page-8

KZL has mostly been hammered because of the downturn in the zinc price(from high of $1.20 around Feb to $0.82 now) and govt tax issue. KZL is still making good money from copper production and soon nickel. If Admiral Bay is a goer, it is unlikely to be announced until tax uncertainty cleared up (now it is) and until zinc prices have returned to a reasonable level, say around $1.00 I estimate. Admiral Bay not only has to be economic, it also has to be 'marketed' and preferably you don't want market conditions to be at there worst like they were during the Mungana IPO.