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KZL, KAGARA LTD
OZGAZ
post Posted: May 1 2012, 08:01 AM
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In Reply To: nipper's post @ Apr 30 2012, 11:40 AM

writing was on the wall a while ago....shame for shareholders


Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 
nipper
post Posted: Apr 30 2012, 11:40 AM
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QUOTE
The board of Kagara Ltd (ASX:KZL) has resolved to appoint voluntary administrators as part of continued efforts to restructure the company, its financial arrangements and operations.

As of April 29, Mr Michael Ryan, Mr Mark Englebert, Mr Stefan Dopking and Mr Quentin Olde, all of Taylor Woodings, were appointed voluntary administrators of Kagara.

The role of the administrators is to independently investigate the affairs of a company and recommend options for its future.
Mr Ryan said: "In the case of Kagara, the voluntary administration process will provide the company and its stakeholders with the necessary breathing space and protections to make the decisions about the future of the company in a considered way. "Kagara has a portfolio of high-quality, sought-after assets including strategic mines, processing operations and exploration projects in Queensland and Western Australia. "As administrators, we will work closely with the management team to identify all potential options and opportunities available to Kagara, including options relating to a potential recapitalisation of the company.

"A further role as administrators is to keep all stakeholders fully informed of progress in relation to the voluntary administration process. "We will maintain communication with key stakeholders, including employees, shareholders, creditors and local communities, and will provide more detail to these stakeholders as it becomes available."




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: abner29  
 
Sinner
post Posted: Apr 27 2012, 12:27 AM
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In Reply To: jeeves's post @ Apr 26 2012, 02:27 PM

Jeeves,
The 'mining boom' is not as widespread as it is made out to be-it is really iron ore, coal and gold that have really been winners. Copper is OK. But other commodities less so, particularly when the currency conversion is taken into account. So the complaints the manufacturing industry etc have re the 'mining boom' is, as you suggest, a problem for the miners whose commodities have not appreciated as much as the aforementioned others. Probably moreso, as the zinc miner skills are more readily translated to gold miner skills than say an automotive engineer's skills.

 
OZGAZ
post Posted: Apr 27 2012, 12:10 AM
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In Reply To: jeeves's post @ Apr 26 2012, 02:27 PM

Certainly doesn't look good Jeeves...things can turn ugly really quick it seems in the mining game, despite it being mooted as a money making industry at the moment ! this just shows it isn't always the case.....never thought KZL would get to this point but there you go. Lucky I got out a while ago..

Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 
jeeves
post Posted: Apr 26 2012, 02:27 PM
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KZL has the smell of death around it? People continue to talk about how profitable mining is but feel this only applies to the big or bulk commodity miners. Small operators are being killed by high wages, energy costs, interest costs etc that are not compensated by scale.

Jeeves

 
abner29
post Posted: Mar 7 2012, 12:47 AM
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Kagara cuts 130 jobs as it scales back operations | By: Esmarie Swanepoel 6th March 2012 PERTH (miningweekly.com) – Base metals miner Kagara on Tuesday said that it would cut some 130 jobs at its North Queensland operations after commodity prices continued to fall.

The miner has introduced a series of initiatives, in addition to those outlined as part of its five-year growth strategy, designed to streamline activities towards the most profitable elements of the business.

These initiatives include refocusing the company’s operations around zinc and copper production from the Balcooma underground operation and the Baal Gammon openpit operation in the central Mount Garnet region, suspending the development of the West 45 underground mine, and placing the mine on care and maintenance until zinc prices improved. It would also move the Thalanga processing operation onto care and maintenance at the end of March and suspend exploration activities in North Queensland, until market conditions improved.

The company said that it would continue to reduce corporate and administrative overheads to a level consistent with the changed operating base of the business.

In January, Kagara announced plans to save some A$5-million a month as falling zinc and copper prices continued to erode operating margins. The cost reduction initiatives included a temporary suspension of mining activities at the Mungana underground mine during the wet season, when the ore would normally be stockpiled, with staff to be redeployed to other operations.

The miner said on Tuesday that the Mungana mine would continue to remain on care and maintenance as part of the new strategy.

As a result of the operational restructure, Kagara has advised shareholders that production at the North Queensland base metals operation would now be reduced accordingly.

Zinc production in 2012 was expected to be in the range of 43 000 t and 47 000 t, compared with the previous guidance of between 53 000 t and 59 000 t, while copper production would reach between 14 000 t and 17 000 t, compared with the previous guidance of between 17 000 t and 20 000 t.

However, the implementation of the strategy was expected to return Kagara to profitability during the second half of the financial year, subject to any further significant movements in commodity prices.

During the first half of the 2012 financial year, Kagara reported a net loss after tax of A$48.9-million on revenue of A$130.5-million.

It posted a loss before interest, tax, depreciation and amortisation of A$15.3-million for the half year, as a result of the continued strength of the Australian/US dollar exchange rate and the significant decline in commodity prices.

During the period, Kagara produced 32 967 t of zinc and 9 906 t of copper, as well as 2 381 t of lead and 952 t of nickel.

Edited by: Mariaan Webb

 

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flower
post Posted: Mar 2 2012, 04:53 PM
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In Reply To: arty's post @ Feb 13 2012, 09:51 PM

QUOTE
But then again, maybe the Market is starting to believe that's finally about to happen?
The chart seems to suggest that much - worth a closer watch?



arty---be a touch hard as KZL rebalanced out of the ASX 200 effective March 16th icon14.gif



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Combining Fundamental comments with Fundamental charts.
 
arty
post Posted: Feb 13 2012, 09:51 PM
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In Reply To: OZGAZ's post @ Jan 11 2012, 11:29 AM

My sentiment exactly, OZGAZ;
KZL have been around for a long time and should have managed to turn a profit by now.
But then again, maybe the Market is starting to believe that's finally about to happen?
The chart seems to suggest that much - worth a closer watch?

Attached Image





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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
OZGAZ
post Posted: Jan 11 2012, 11:29 AM
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In Reply To: jeeves's post @ Dec 14 2011, 01:10 PM

A rather late response Jeeves to your 14/12/11 post, but, as they say, better late than never....anyhow, I have just read the investor presentation which was out today but unfortunately I totally concur with you regards their performance. I had a parcel in KZL some time ago (based on the presentaion at the time ) and sold out at a loss (having ditched BPT to do this - well that was a minties decision upon my part, doh..). Since then I have had them on my watchlist but so far have resisted the urge to reenter. They, as you say, have promised so much over the years and delivered not much, and, with the prices of metals dropping considerably it is even harder to justify another stab at them. Their cash position , despite having raised a few mill with the SPP, given their forward exploration and BFS, I think , is tenious at best.
Like you also I have seen a number of co's that I hold go to market for deeply discounted capital raisings, in a battered market, and it is really starting to P's me off...what are these handsomely paid management gooses doing ???
Still, I will continue to 'watch' but until global sentiment changes I'll sit on the sidelines...

Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 
Limerick
post Posted: Dec 14 2011, 02:25 PM
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In Reply To: jeeves's post @ Dec 14 2011, 01:10 PM

Not to worry jeeves, you can always get a job as a butler. biggrin.gif


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