Its hard to put things into perspective, i really don't understand how we could go from the great five year plan a few months ago, to selling lounge lizard and still owing bucket loads to creditors and in suspension, i am stunned.
Why have we stopped copper operations, ( i know we are still processing stockpiles) surely the cash margin is worth staying in production, or is the cash cost above $3lb
We have clearly not been kept informed as to the financial health of our company, many larger investors have been bailing out and driving the price down, they clearly knew the extent of the problems but we insignificant, non sophisticated investors were not privy to that info. This situation smells, i have yet to make up my mind whether i can still trust Geoff Day.
lets wait and see what the next week or two brings and if the company is going to be straight with us, our problem is still with the $ and the zinc price, if that does not improve then we are stuffed if it goes on too long.
I think they need to leave the plants shut down and produce only copper, at least they will have cash flow, last time i looked the copper cash cost was about $2lb that is still a healthy margin, it will bring in cash and hopefully stabilize things. we should only sell the family silver if the viability of the company is dependent on the money for survival.
We now know that the poster that said KZL were not paying contractors a few months back was right, I also remember someone saying they had shut some operations quite a while before we have officially heard.
At the end of the day, we all knew things were not good, but it seems we have been mushroomed as well.
Anyway, onwards and maybe upwards in time to come, we are in the lap of the gods, or should i say Banks/creditors unless GFTG come to the rescue. I never thought i would see the great KZL in this situation, but there you go and here we are.
KZL Price at posting:
12.0¢ Sentiment: None Disclosure: Held
