todays trading, page-16

Hello Cuzo, it might come back to supply - we have heard a lot about demand being down, but every time I look about in the detail I see more news of mine closures, cutbacks or cancellations. It take little time to close a mine but a very long time to establish one. Dont we know that one. Could write abook about it. Inelasticity of supply will be there if trade demand recovers. Most small to medium miners on the higher end of the cost curve, cannot continue to run at a loss. They cant go to the bank for a loan and the chance of raising money on the market just now is about nil. The shorting speculators are really damaging the worlds productive capacity with their games with OPM.