I guess they keep pausing on the way down because people still remember the old slimline KZL of 2007-8 that traded at around $7, and they keep thinking the going price must be the bargain of the century. I think a few hardy souls even paid up to 18c at the top of a price spike a week or two ago, didn't they? I wonder if they are still holding.
This is a bit like watching the decimation of Bass Metals (BSM) recently (now at 1.2c, down from 40s a year ago), except that KZL surely can't be in such a hopeless position. For a start, copper is still worth mining. Still, I suppose the current SP, at 10 times BSM's does at least reflect some hope. Put it this way, I'd have preferred to have had my money in KZL that where it was - you guessed it - BSM. Now much poorer but wiser.
As a suggestion: couldn't the company sell Admiral Bay?
KZL Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
