Ann: Quarterly Activities and Cashflow Reports, page-14

Since the restart of operations there have been (and still are) so many differing points of view. Find it interesting as well as puzzling - there has been a lot of negativity (still is) even though there have been significant derisking and lowering of production costs and increasing output. Not a cash cow, but it would be if zinc wasn't at these low levels.

Harsh reality is also the fact that whilst at company level management and staff can do the best they can, but if the commodity you're producing is only at breakeven point then you are going to struggle. You can be forward looking but if assumptions on zinc price are bearish and low prices reflect that bearishness, then markets remain likewise.

The good thing is that there are still improvements that can be made in the plant thereby reducing those fixed costs and then it's up to how the zinc price and TC's behave and ultimately how the market perceives how well the company will perform with all the risks.

We buy, we hold and then sell - each with differing risk appetite and expectations - one invests to make a bit of money - whether it's short or long term, whoever makes some then well done. So anyone sees this at a dollar we applaud and anyone sees it at 5c we shudder. Fortunes have been made and lost (and will continue as such) - another harsh reality. All the best.