Both NCZ and RVR (and HRR) are way down but then how many trillions were wiped off ASX during the week? There are smarter ones than me who got out of NCZ at 30c, 25c, 20c, 15c. Smarter ones also who got out of RVR at 18c, 15c, 12c, 10c. There are also smarter ones who short the heck out of a stock. Then there are those who perhaps less smart or maybe less panicky, or down right naive or just have a longer timeframe than a day or week or month.
Zinc prices downhill - the average for the month of Feb is roughly 94-97c/lb. Definitely not great. But January was better and March - will have to wait and see. Pricing company receives is the quarterly average the amount of which at this stage is not yet clear. March average could be better maybe. Will know soon enough. What we also know is that C1 costs are forecast to be between US85c-95c/lb for the March quarter. If it comes in at the lower end then break even is still possible. At this stage lets just take it one step at the time.
If one wants to put blame perhaps pointing to China for this viral outbreak is warranted more so than blaming management of this company.
I do hope that the company will survive this period of severe downturn for all stakeholders. If not, then there will also be more unemployed people as well as a lot of shareholders left out in the cold.
NCZ Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
