As soon as Dugald River passes bankable feasibility Zinifex will have plenty of cash being sucked into internal investments, it just so happens that they’re not at that stage yet. Not to mention if the Wolfden acquisition goes ahead. ZFX has heaps of investment opportunities just on the horizon which I think is a much smarter idea than buying producing companies at the top of the cycle. And if you’re making that comparison to BHP, you should look at the $13 billion worth of buyback programs BHP has running at present. That’s effectively a pretty fat dividend.
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