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Kagara says it won't meet earnings guidance

Zinc metals miner Kagara has described the 2011 December quarter as a challenging period for the company due to a continuing decline in both zinc and copper prices which has impacted significantly on its cash operating margins for both commodities and therefore cashflow.

Based on current commodity prices, KZL advises that EBITDA guidance for the full year will not be maintained. Cash operating cost forecasts and full year guidance is currently being reviewed and, along with EBITDA guidance, will be updated based on the various activity and cost management measures currently underway and reported in the half yearly results due for release to the market on 23 February 2012.

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