It's all guess work what Glencore might do, Glencore probably doesn't know. My guess is they won't re-start those mines if it would cruel the Zn price rally, they're smart like that.
Instead they're investing in other projects which they know will go ahead with or without them. Reading their Investor update (http://www.glencore.com/assets/medi.../2017/GLEN-2017-Investor-Update-FINAL-web.pdf), instead of re-starting all their existing mines they're spending nearly $1 billion on a stake in Volcan and investing $400 million on a brownfields development in Kazzinc. These projects may have better metrics and synergies than Citronen, so it's understandable they haven't got around to us just yet.
In my view it doesn't really matter if Citronen starts after the peak of this boom, where we sit on the cost curve the project makes money even at a worse-case Zn price. Over half of global production would shut before IBG gets into any serious trouble, the project is practically bullet proof re the Zn price.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.500M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $25.51K | 8.504M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
23 | 20004995 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 5677007 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 20004995 | 0.002 |
12 | 12600487 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 5677007 | 2 |
0.004 | 28681459 | 19 |
0.005 | 2599920 | 5 |
0.006 | 100000 | 1 |
0.007 | 715300 | 3 |
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