Zinc price is good, apparently smelting charges and penalties are ok and the plant has ramped up well compared to peers (see previous presentations) yet cashflow remains poor. The BFS is presented as phase 1 and phase 2 with strong NPV and IRR. Does this mean that phase 1 (completed?) was actually neutral or negative in terms of NPV and IRR and there was strong reliance on phase 2? Happy to be wrong however something looks strange here.
NCZ Price at posting:
75.5¢ Sentiment: None Disclosure: Not Held
