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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jpthoma1 who wrote (22560)	10/21/2003 3:46:04 PM
From: TrueScouse	Respond to of 39344

jp: <<Is Zinc really starting a long term move?>> Who knows, but it could be in the early days of an uptrend. e.g. Recent LME prices: - Sep 30: $824 (US$/tonne) - Oct 06: $854 - Oct 13: $900 - Oct 20: $915 <<how to explain part of this last week PR from Noranda>> Noranda is a huge bureaucratic organization that probably takes months to make decisions. It's also got serious cash problems. <<Zinc prices, currently between 36 U.S. cents to 40 U.S. cents per pound, render the project unprofitable at this period in time. Noranda will continue to monitor market conditions to determine the timeline of the Perseverance startup.>> In 2003, China has gone from being a net exporter of refined zinc to being a net importer. This is going to have a huge impact on demand. Also, if the US and European economies are really picking up, that will also increase demand. <<So, are they making a mistake?>> Yes! JMHO of course. :^) Frankly, some of Noranda's recent decisions baffle me -- for example not to spend even a small amount on further exploration at Metallica's huge El Morro copper-gold deposit in Chile, in the current Cu-POG environment, strikes me as just plain stupid! BWDIK? Regards, Howy