Yes, highly dissapointing.. I know Mike is highly dissappointed in this as well. Fact is he has a great polymetal resource (however biggest bit is Zn) and has protected the short term drop in price by a good hedge position. Also every quarter they are over acheiving their targets in terms of product. On top of that Fossey's is looking very promising and I know they are keen to finalise the mineral resource there. Also the Zinifex(Oz minerals) alliance is drilling and they have signed this new agreement to drill the same ground for other metals is VMS. All in all very smart. They are staying focused and getting on with the job..
But the share price is lagging as is many other good companies..
Commodities are not the "in" thing at the moment but if China can push past the rest of the worlds credit problems by revving up their internal economy then we should see the commodity boom last longer.. The fact is that commodities are finite, good resources are getting harder to find and the costs are rising so long term supply/demand curves will also balance with the costs to produce these minerals.. We are already seeing large companies stopping production at some mines until prices recover.
BSM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
