disgraceful, page-11

I think we have this all arse about face, the loss I believe from what you have said Hoggle, is an Opportunity Cost. They had a business plan based on an their estimate of production and production costs, they decided that at that time it was prudent to lock in forward prices they recieve. If Zinc prices now, were on the floor then that strategic business decision to enter into forward sales and "hedge" their "bets", then it would have been a good decision. However, spot prices at contract expiry dates has been higher. Therefore, there was an opportunity at increased profit missed. Which is what I believe they are reporting. Not a loss, but, more an oppportunity at increased profit missed! Does that make sense.

No doubt the decision made sense at the time. But, hindsight is a wonderful thing.

I'm no CPA, so I hope I got that right. Feel free to set me straight, ...if its twaddle.

Feels like we are all a pack o dogs, in a wood, barking at phantom cats up trees! ooh, leaf moved, whoof, whoof, whoof,. Kinda think the whole market i a bit like that at the moment.