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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (109651)6/21/2001 2:08:36 PM
From: Real Man  Read Replies (3) of 436258
 
Some rumors to consider:

Pasminco(PAS)an Australian listed co which is the worlds third largest producer of silver had its shares suspended on the Australian Stock Exchange today.Rumors are flying that unless the co is taken over ,bankruptcy is inevitable.Its share price has dropped over 50% in the last month.Its market capitalization has dropped from nearly 3 billion AUD to 250 million AUD in little over a year.The reason for its woes are many.Pasminco is also the worlds largest producer of zinc and is losing money on every tonne of zinc it produces,zinc prices are not expected to recover in the foreseeable future .It entered into bad currency hedging which is costing the co tens of millions every month.It is 1.9 billion AUD in debt.
Pasminco has sold forward 5 years of silver production .
It could prove interesting.
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