Don't forget, 12% of the Century workforce just got sacked which will reduce operating costs. Also, the price of zinc has been around US$0.50/lb for nearly 2 months and has actually been heading up from US$0.46/lb for the last two weeks. The LME stockpile is still a quarter of the amount that it was 5 years ago when the price of zinc was US$0.50/lb. Zinc operations are also starting to close around the world so perhaps keeping Century open, even if it is marginal, is a wise move.
I think it's the copper price we have to start worrying about. PH must make a profit and fast.
OZL Price at posting:
$5.50 Sentiment: None Disclosure: Not Held
