Announcement that the MD of Kagara bought $200K worth of shares at over $1 is very encouraging. He already owns over 15% of the stock and has been buying at 30c, 50c and 60c. I was of the opinion that his on market purchases had stopped and that KZL was looking a little pricey however this news has certaintly made me even more confident to hold for the long term.
A pick up in volume recently is also encouraging and may suggest that institutions are taking a keener interest in Kagara.
Just to mention the factors again which will move KZL to higher levels: - improving zinc price - upgrade in resource from the Balcooma drilling - encouraging gold and copper grades from their latest drilling results - a possible new gold mine near Mt Garnet - a doubling in production rates from the current plant
KZL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
