lead effect

* An increase of US$25/t in the lead price increases ZFX's gross margin by around AU$3mill/yr

* An increase of US$25/t in the zinc price increases ZFX's gross margin by around $AU$21mill/yr

Hopefully Budel electricity prices would have decreased somewhat in the past month or two as the oil price has significantly decreased.

I've estimated the average zinc price over the past financial year was around US$2200/t and the average lead price was around US$1150/t.

Average zinc price for this financial year has been around US$3400/t and for lead around US$1300/t.

So while this is very early in the financial year, if production rates remain similiar to last year and if zinc and lead prices remain around the average for the current financial year we can expect revenue to increase to around AUD$4.4bill. and EBIT to around $2bill.

NB I have made a few assumptions however I will update the figures over the financial year and will put more detail in. This is just a crude starting point.