Most of the blame should go to management. Significantly underperformed operationally, bringing the project on at the wrong time and loading up on debt.
Had they met their operational targets (or even come close) they wouldn’t be here, had they better forecasted the impact on the market of their volumes (plus the other large mines commissioned at the time) they may have taken more conservative options (raised more equity earlier etc).
Blaming the coronavirus Is just a easy excuse. Those who follow the zinc market know the writing was on the wall.
NCZ Price at posting:
11.5¢ Sentiment: Sell Disclosure: Not Held
