PAS for all the sad owners of this poorly managed company.
______________________________________________
PASMINCO
PASMINCO, whose US dollar borrowings in Aussie terms shrink as the Aussie dollar rises, at 11.30 a.m. today will have a new plan for its restructure and survival tabled by the administrators in Melbourne. According to the media, creditors are willing to take a haircut. Shareholders will be left with only 5 per cent of the stock - no doubt capital raisings in due course will increase shareholder involvement - but the jewels in the crown, Century zinc in Queensland and the Rosebery mine in Tasmania plus the European and Australian smelters will be retained and the world's largest zinc miner will be returned to the lists. Probably congratulations are due all round.
