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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (549)	7/19/2001 1:02:23 AM
From: craig crawford	Respond to of 1643

Wednesday July 18, 5:20 pm Eastern Time Breakwater shares hit new low on zinc price biz.yahoo.com TORONTO, July 18 (Reuters) - Shares in Breakwater Resources (Toronto:BWR.TO - news) hit a new low on Wednesday as the zinc price coasted around its eight-year lows of 38 cents a pound on the London Metal Exchange, putting the Canadian zinc miner under increasing pressure. Breakwater's stock hit a new 52-week low of 90 Canadian cents during intraday trading on the Toronto Stock Exchange despite the metals and minerals index ending up 3.34 percent. The stock strengthened slightly near the end to close down one Canadian cent at 99 Canadian cents. Breakwater shares have fallen 32.4 percent since the beginning of the year, sharply underperforming the metals index which has risen 12 percent in the same period. Canadian mining analysts said on Wednesday they anticipated Breakwater might be forced to close some of its five operating mines if the zinc price remained below the company's budgeted operating costs for 2001. Breakwater, which has operations in North and South America, has said it expects output in 2001 of around 480 million pounds of zinc at a cash cost of 39 cents per payable pound. Breakwater said in June it was deferring the next three payments on its $31.5 million term loan to conserve cash, which analysts said had taken some of the immediate pressure off the company. The zinc price has slumped 19 percent since the start of the year, mainly due to weak demand and slowing economies.

To: Stephen O who wrote (549)	7/19/2001 4:31:05 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Wednesday July 18, 7:17 am Eastern Time Rio Tinto Reports Coal & Allied First Half Profit and Outlook biz.yahoo.com ``Despite the uncertain economic environment in key markets in Asia, coal demand is likely to increase as a result of continuing high energy demand. Coal & Allied will benefit from the full impact of price increases for export coal in the second half because of its strong contract position with its customers.''