If you look at the LME data every 2 months we get a small dump back of zinc stock into the LME inventory and a pull back in the zinc price however these reverse movements seem to be getting smaller and smaller - the trend to lower zinc inventory and higher zinc pricing is still in place.
Once we hopefully get some more news
- The reserve upgrade and LOM increase
- Commissioning of the mill (I expect with the ore already on the ROM pads - they are testing and commission each bit of equipment as they repair and replace and once all the individual pieces are tested (which I would imagine they are doing at the moment) they will then proceed with a full mill run commissioning of the plant
- Sign of Zinc off take contract - they are possibly waiting for actual sample product to finalise this
One day we will wake up and this stock will be rerating strongly - but till then stand easy
RVR Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
