Sal
No body is denying that this resource will at some point be profitable and that the problems in the western economies have a huge bearing on the zinc price,
The rub is in the fact that management have continually talked up this project by way of positive economic studies and various announcements and media interviews as most recently as the March quarterly, for crying out loud, when asked recently at what sustained price of zinc does management consider the project to become viable, the answer I got was an astonishing,
"We cannot provide guidance on this other than as stated in the 13 June release that “… an improvement in both zinc and lead prices will be required to provide a suitable return to the Company and its shareholders …”.
The huge blow out in capex would mean that they either have to find a much larger resource or the price of zinc to rise considerably. I hope that sheds some light on why holders are so angry.
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