Interesting to see the spin doctors were at work yesterday suggesting that the retail component has been oversubscribed(bull), just in time for the insto book build.
I wonder whether the insto arms of Citibank, Deutsche et al are applying-nasty rumour that one of those fund managers in Sydney has purportedly threatened to resign on the spot if forced to do so, and tell the world about it.
Besides the banks, who needs this pile of hidden liabilities-no div, big cap spend to get smelters back up to speed, environmental liabs unquantified, 11 yr mine life at Century and 4 at Rosebery, commodity prices at peak cycle rates for lead, high zinc prices despite large LME stockpiles.
No thanks!
PAS
pasminco limited
