I have read more conspiracy theories on this thread than you would get on a gold price thread after the RBA sold its gold holdings. Its time to look at the facts.
In 2007 ZFX made $250m from their mining operations. Based on the simple difference between their realised zinc and lead prices in that year to lead/zinc prices today they are about $650m dollars worse off. That means going forward (if zinc and lead prices dont improve) the OXR copper profits will be offset by about $400m in zinc losses.
In terms of the enlarged OXR thats double the market cap and half the profits. Unless the zinc price improves this thing could get nasty.
Happy trading
OXR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
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