no such thing as an extraordinary profit required to be slugged.
my understanding remains, that the kevin tax,,,is aplied to revenue, before EBIT. Before cost of finance.
So if you have a large debt you are servicing, it is possible to be making an EBIT loss, and still need to pay this "super" tax.
Nasty.
Also, i think it has created such clouded uncertainty, that the old motto,, if in doubt, sell.
That coupled with weaker comodities has just left people asking,,,do they want to buy?
So with a lack of buying,,and lets face it, that buying pressure comes from an expectation that the SP will return to previous levels in a short enough time span.
The problem is, that the line in the sand, has been rubbed out, and no-one is sure where it is.
ie will it return to 80c??? or is 60c now the line.
KZL Price at posting:
58.5¢ Sentiment: None Disclosure: Not Held
