It's obviously way into a bull market judging by a lot of the comments floating around HC the past 6 months - the amount of dribble around is driving me nuts (there are fortunately still a few good posters around thank goodness).
Why does anyone try to guess the price of a stock like Zinifex - how can you even attempt to guess?
look at the amount of variables:
still almost totally relaint on zinc price
zinc price - stocks have risen but how much more will they rise?
Zinc price has come down approx. 20% from highs but up heaps from 2 years ago - where will they settle?
profit down slightly on last year - Century suffered due to first half shutdowns and maintenance but volumes are expected to be up next year
overall costs were up 16% in the first half - will they keep rising? Consider the oil price ran up strongly mid last year but has settled back under $60, although there is much talk of it rising again
Smelter selloff to come
Wolfden purchase still in the balance - may buy, may not, may pay what they've bid, may have to pay more, may walk out after due dillegence
Dugald River planned to go to full feasibilty
Strong dividend - not up on last year but strong nevertheless - should they have considered a buyback?
If profit's down next year will dividend be down?
P/E of around 6.
Partnering with a number of explorers - will one strike it rich?
Takeovers/ mergers raging in the resource sector.
Ok - I can't be bothered any more. Sure, price will probably end up between $14 and $14.80. Now is that $14.10 or $14.65 - if I could only figure that out I'd know exactly when to buy back in! For what it's worth I sold for $17.76 on the 20th. Today I feel great, tomorrow maybe I won't...relax guys.
ZFX
zinifex limited
