With zinc prices currently heading up, it'll take the quarterly average up with it. Exchange rates whilst higher as well, do not wipe out all the gains.
Even coupled with the muddy TC pricing and contract details for sales, provided zinc prices hold and output increased with better recoveries, going forward, NCZ should finally be turning into more of a cash generator and a subsequent rerate to follow - finally.
The uptake of the current CR looks to be in the money for participants - I'm in.
NCZ Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held