Virginiak, Sorry to correct you, but Zinifex is the reincarnated...

Virginiak, Sorry to correct you, but Zinifex is the reincarnated Pasminco. Pasminco itself was the son of the staid Electrolytic Zinc Co of Australasia which has been churning out zinc since 1917. At no stage did production miss a beat through the name changes.

Pasminco jazzed up the place with fancy American gurus and accounting practices including what turned out to be disastrous ongoing hedging contracts. To rid the company of those it went into administration, and voila! - emerged the same except for a new name and no hedges.

Let's hope CNP can weather its storm similarly unscathed.