140 million loss. that hurts, page-7

Yes next week will be very interesting. It has been a wild ride with this company. They definetly hold back on the negative news until the last moment. Was thinking of buying back in to recover losses last week. Now I feel sad for the ones that went in last week. They could have said they expected a loss like CBH said. Anyway, we guessed it would be a loss but not this big. After all their funny accounting and write downs, it is now a race between the zinc price going up and running out of cash. On cash it would appear they have a lot less than they said. Now they say that it's "commercial paper" not cash they had. Who knows what this means, I assume they cannot sell the paper in a hurry otherwise they would not have sold the hedge book to raise cash which they needed for redundancies and for guarantees to repair mine damage when the operation finishes. The banks would no longer provide a bank guarantee. Not a good sign as it ties up millions on dollars that cannot be used and shows the banks are not happy with them.

Never expected in my wildest dream that this company would mislead us suffering traders / investors so much. It explains why UBS and Barclays kept on dumping the shares at any price over a six month period. They knew or guessed what was going on. God help the SP if they start dumping again soon. I estimate they have reduced their holding from approx. 19% back in the middle of last year to about 11% now. When clicking on the sentiment box could not find the option "confused and annoyed" which is the way I feel.

I have come to the belated conclusion that every CEO has the potential to becoming a white collar criminal. Maybe that gets them the job in the first place.

CL27