Sydney - Friday - March 18: (RWE Australian Business News) -
Zinifex today announced that an electrical failure in the SAG
(semiautogenous grinding) mill which is located at the start of the
concentrator production circuit at Zinifex Century Mine is forecast to
result in an interruption to production of between 11 to 18 days.
Zinifex Century Mine produces approximately 500,000 tonnes of
zinc and 65,000 tonnes of lead in concentrate in a full year.
Repairs to the SAG mill have commenced.
The full financial impact of this disruption will be quantified
once the full extent of the repairs is known.
ENDS
--------------------------
Now that would explain the recent sell off. Fundamentals still remain good but now a risk discount will apply.
1 minor setback can be forgiven. Another mishap and it's 10 minutes in the sinbin. 3 times or more it's a basket case like MRE.
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