Kagara Zinc has just announced a capital raising to maintain exploration momentum that it has gathered during the 2002 exploration season. During the year it has had excellent success and the proposed plant expansion to 150,000t now seems likely. The 2003 exploration program will involve the recently acquired Red Dome assets, the Balcooma zinc deposit, the new Montevideo discovery, the Mungana zinc deposit and the Muldiva prospect.
As 9 million shares were placed at 46.5 cps raising nearly $4million, I believe there could be a window of opportunity coming up to buy KZL below 50c for those investors interested in this quality company.
KZL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
