Totally agree Saxien:-
Gailley happily pockets north of $1.5m whilst the receivers were making all the decisions;
Talks about the fundamentals of zinc going up but selectively ignores the amount of metal stockpiled in LME warehouses, the number of mines currently shut in that can be brought back onstream in Canada (and here such as Leonnard Shelf), excess capacity in South Africa and South America.By the way he should talk to his trading division where they will inform him that China has a propensity to export the stuff rather than importing it!;
And one of the many poison pills-the lack of development/maintenance expenditure over the past two years. More decline work is neede quite urgently at Roseby, heavy maintenance at Century, and just like Santos-they are in for big reline/up grades at Risdon and Port Pirie.
This is a crock of the proverbial-get your zinc exposure elsewhere!
PAS
pasminco limited
