PAS is still a mystery to me, if they locked in prices using hedging sure they miss upside if the zinc price rises but it is not a real loss if the hedging matches their actual production, just an opportunity loss.....hedging can be used to reduce risk rather than amplify it. Oh well, history now.
Yeah ION was out of the blue it was a market darling around 2001 / 2002 I bought it just after 9/11 but bailed when it was high, lucky on that one.
