Wake Up Now !!!!, page-13

There's this worry in Australia that Zn cycles are always brutal, because of Pasminco right? Pasminco got burned on some unfavourable hedge positions, and in hindsight 2002 was right at the bottom of the decades-long lower-price super cycle in base metals. Since 2002 we've been in a higher-price super-cycle with troughs and peaks in the shorter term, all about China. Anyway, with the perception Zn is especially risky here, I keep saying we should dual list on TSX.

I've been in China the past couple of weeks looking at some mines. Let me tell you the amount of construction going on in 2nd and 3rd tier cities is just phenomenal, roads, bridges, apartments. There's no way to know just from looking whether it's all speeding up or slowing down, but there's an awful lot being built. I heard off-the-plan apartments sold in Beijing for $2M, that's way too expensive for most people so it's no wonder the government is trying to cool it down. In the west everyone is worried that with cooling house prices there'll be less demand for metals, hello?? If houses are cheaper more people buy them and more get built! In regional capitals they're up to $120/150,000 for a decent large apartment, towers selling out before construction starts, they can't build em fast enough.