Zinc prices were much lower for some time then forecast. Plant upramp took much longer than forecast. Forecast recoveries were not achieved. Treatment charges were through the roof and forecasts were off. There were changes to expected throughput - lowered, thus extending operations. Analyst forecasts were somewhat off the mark. Dividends were expected but as yet never materialised. Original metrics based on projections fell short. Management just a tad too optimistic. Shareholders were milked with cr's and dilution. That about covers it for me.
Best to holders with NCZ's new acquisition - they need something to extend operations - it is in management's best interests - not sure how markets will react.
Not a downramp but rather a realistic look in hindsight - the future may turn out rather different. AIMHO.
NCZ Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
