trading on a pe of 4, page-27

I can't see zinc going too much lower. Cost of production has risen so much in recent years that much lower & it will cause production cuts & certainly curtail any new production. The lead price must also have offset some of Zinc's losses. The Dec result may not be great, from a production prespective, howvere they obviously have the win from the HER transaction as well as they will have benefitted from a pull back in the zinc price against their hedges. This quarter & the next should be much better as they will be shipping the 70k tons of zinc they stockpiled last year.

Anyway finally some decent sized bids at $1.80 & $1.82 may see the s/p bottom.