He's just calling it like he sees it. By my count they have delayed resource upgrade announcements 2-3 times. 15 Dec, 30 Dec, Jan 31? In addition to an expected downbeat report, they will probably (as stated earlier) downgrade the EPS forecast for Q3 & Q4. A bit of that is priced in but the number unknown. All HT is saying is that a bit of investor faith is being tarnished when you state dates for deadlines and don't follow through on time. I will give them the benefit of the doubt until the 15th of Feb and will be focusing on cash flow. In particular the AUD forecasted impacts for Q3 & Q4. In my mind they already passed through a critical survival test in Q3. For this company to really hum though, they need zinc prices to average $2,400 a tonne, which I think is possible in 2013. Still that means they'll be at the mercy of the markets for the next 4 months and they are not very merciful. I'll be holding and buying more KZL on the dips though. I'm too arrogant to do otherwise.
KZL Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
