Maybe it's old age, but after eleven years of retirement and...

Maybe it's old age, but after eleven years of retirement and building my Ironbark holding, that last announcement floored me. We were travelling around the Europe at the time and took it in my stride. Now back in Thailand and after further review methinks it's finally time to lighten up, which I've done by selling 2/3rds. I hope to buy back when they finish their slide back down to who knows where.

I expected Bacchus Capital to do their job and find the investors to support EXIM, and obviously underestimated how tough it is to get financiers to embrace a zinc project in the arctic. I have no view on Glencore's role in this, could be zero to a lot. Fact is after throwing everything at this project, the market is just not ready to take it on, even with the steady healthy zinc price and falling inventories. I'm sure it will at some stage and l'll be following closely.

Best wishes to all holders, and I hope to increase my lot again, sooner than later.