Deteriorating technicals, page-20

High water mark of 40c seems a long time ago now ‘eh

And of course it wasn’t company fundamentals (in isolation) that lifted valuation to those crazy levels-it was a booming POZ and crashing warehouse inventory

There was a LOT of froth in the SP back then, mostly based on giddy and unrealistic expectations of future zn price

Since then Poz has stabilized around current levels and the narrative of perpetually diminishing LME inventories irreparably ruptured following a series of mysterious supply dumps

RVR has also seemingly found a comfortable nook in current trading zone. This is what the market considers a fair price for Big Red (in the absence of new price catalysts-positive or negative)