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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (65)	2/11/1999 7:41:00 AM
From: jack hampton	Read Replies (2) \| Respond to of 3270

Claude, I don't have much faith in Skorpian. Not exactly conventional milling. Some sort of clay leach project.

To: Claude Cormier who wrote (65)	2/11/1999 2:21:00 PM
From: Ray Hughes	Read Replies (1) \| Respond to of 3270

Claude: Knowledgeable commentary from metal trading firm predicts 1999 smelter capacity deficit on assumptions that Crotone and Porto Vesme smelters' production is not significantly below present projections. But, this is predicated on situations that seem likely to have negative, not positive surprises, i.e. production will be less than expected. Beginnings of Asian economic recovery later 1999 will lead to release of pent up demand. I believe (based on much history) that demand for metals will be higher than many project, due to the release of pent up needs. Smelter capacity shortage results. Its not a negative, but a positive for the price of zinc if there is an excess of concentrates. Smelter charges will rise again and that must be added to the market price of zinc, putting upward pressure on price overall. Yep, Auspex/Vestor's share of projected cash flow from Aljustrel (Portugal) project generates better than 30% IRR at $0.55 zinc, $0.28 lead and $5.50 silver. RH