Ann: Revised Nyrstar Proposal , page-7

"Nyrstars offer price would be within 3% of the low end of this adjusted GTCF
valuation range. In reviewing the GTCF valuation, we note that the valuation range
has been based on a:
Long term zinc price assumption of US$1906-1955/t.
Long term lead price assumption of US$1808-1857/t."


Nyrstar's offer seems fair based on THEIR LT prices. But their LT prices are a little conservative IMO when you consider future World growth, especially BRIC countries.