I noted and welcomed the reference to "active capital...

I noted and welcomed the reference to "active capital management", which included dividend and buyback. Three points though:
1. It cannot happen until financial results are released, at earliest, as the franking cupboard is bare at present (that will change when results are released though).
2. Let's not get too excited about the passing reference- it's not a promise and perhaps only mentioned as a defensive mechanisimsm agaiast the angry mood of sharehoders. Don't forget, in the next breath, the same bloke said "We are not a zinc company" - Oh? Last meeeting, he was blowing on victoriously about how we are now the second largerst zinc producer in the world!!!! Seems to me the speeches blow in the diorection of the market mood. Snow jobs.
3. I would much rather see the cash used to buy something which is already producing and cash flow positive, in order to get us away from the zinc dependancy. This is urgent. Also, we NEED to have borrowings of $3 or $4 billion, and M/more has said so. Let's buy some discarded RIO assets (US ore?) and build a great company for the future. The market would love a purchase like that, more than a share buy back.
We have been smashed to stupid levels and it's happened. We now need to see the rebuilding of the company into what it was. Share buys back ae temporary, but great (in demand) assets are what is needed.