When i went to the AGM it was announced that westpac had approved the $50 million loan, they said that westpac were very happy with KZL Forward earnings, it was noted that it was a big show of confidence by Westpac.
I must say, i cant see a bank throwing $50 mill away, i think it is a vote of confidence when you can get the money in this current environment.
The share price is lower than it was before they were even close to having the first production centre up and running.
Now they have Mt Garnet producing, Thanlanga producing, mungana almost built, 3 million ounces of gold, Admiral Bay, Lounge Lizard etc etc etc.
It is insane.
A good example of how insane this market is, Troy resources are ramping up a new gold mine to replace one that has run down, the are cash flow + from another operation and have cash in the bank and a gold processor in storage waiting for an opertunity, they are valued at 5c a share when you take out the cash in the bank?
very good buy, page-5
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