brief technical, page-6

Im not used to reading anns as I invariably find it hard to predict the likely effect anns have on the participants. But since you mentioned the recent ann about the Perkoa project I took a squizzy. Having done so I make the following commnets.

1. Market reaction to the ann has been muted to say the least. Perhaps potential buyers are worried about the financing.

2. Zinc inventories appear to be at lowish levels but I cant see the price for zinc increasing. Disturbingly it appearas to be tapering off so market might be worried that this new project will add to supply thereby lowering demand.

3. No mention of project completion date and production start. Supply/demand considerations could well change.

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i can't believe people arn't buying with ears pinned back on the last ann.

project is now a goer and sp will reflect that within the next few months imho.

aim take a long time to do everything but they have eventually come good on everything they have said on this project. Not on time but eventually.