P.S. From the Helmsec Broker Report, April 2013..Kangala has...

P.S.

From the Helmsec Broker Report, April 2013..Kangala has domestic orders for 2.0Mtpa to Eskom at a confidential price but is adjusted yearly by an inflation index. We have assumed an Eskom price of around ZAR220/t in 2014 (about AUD22/t). The agreements with the contractors also include annual inflators to costs, essentially making Kangala a low risk, constant margin operation. Significant free cash flow upside is available should the company be able to export some of its domestic production at current prices of around USD80/t. To this end UNV have secured a RBCT allocation of 51ktpa. We estimate that Kangala will be able to produce 100ktpa for export. This may not seem a large amount but at current prices and costs could increase EBITDA by over 30%.

At that time the 12 month target price was 38c AUD. These guys do there research. The company is a great takeover if you can pick it up for around 5c.

If anyone here has a contact / mate in the stock broking industry then maybe they could ask them about the trading pattern etc and let us know the response.