Ann: NCZ Quarterly Results Presentation, page-24

Zinc prices are 50% but NCZ has never yet reached forecast figures-
not on recovery nor production levels,
nor on C1 costs (currently still way too high),
nor on rewarding shareholders with any notion of dividends
or SP appreciation -
our reward thus far has been 2 CR's and a depreciating SP and millions paid for hedging, when zinc prices are expected to hold or possibly even have further upside due to demand indicators

CR so far is $220 million, but MC is only $200m