Ann: High Grade Zinc Results Continue at Far West, page-32

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fitsch

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19/05/17

22:06

Post #: 24806421
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Originally posted by thaiinvest ↑

Dear Snakepitt -

From recollection I think it was either Trevali Mining or Lundin Mining presentation or webcast - Trevali unfortunately do not keep old presentations or webcasts on their website and being primarily focused on Zinc I would suspect I picked it up from a Trevali source.

Also Glencore recently sold 2 zinc mines (1 in Canada & 1 in Namibia) to Trevali for cash and an increase in share of Trevali equity from circa 5% to 25%. This is in line with Glencore's strategy - they learnt their lesson from being over leverage at the top of the last mineral and commodities cycle and are focused on "strategic" minerals and protecting and growing their trading whilst reducing debt levels They view strategic minerals as copper nickel and cobalt - hence there sale of their smaller zinc mines to Trevali whilst I guess keeping relationship /increasing equity to ensure they get the zinc trading.

The recent Glencore presentations are a very good read - and again I think you will see they say they have no plans to restart zinc production at their current zinc mines which are on care and maintenance - this ties in with the earlier comment that they would need to see sustained pricing beyond US$1.60 per lb before they reopen consider restarting production.

Glencore have some smart people and I follow some of what they say i.e I like and am investing in Cobalt - CLQ ASX and ARV ASX ( potentially a Cobalt play) not sure about copper there is a lot about even though demand is expected to increase.
Plus while in may not be profitable enough for Glencore to be in zinc under US$1.60 it certainly would be for smaller miners such as RVR ASX or TV.TSX.
Have a good weekend and have a tinny for me

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If you are looking for a copper play have a look at avb,you will like what you see.

RVR Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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