Zincox Share Discussion Threads

[loganair] 07/12/2015 12:12

Belgium's Nyrstar NV said on Monday it was suspending operations at another mine as it seeks to reduce cash consumption in the face of weak zinc prices.

The company, the world's largest zinc smelter, said it would place its Middle Tennessee Mines on so-called care and maintenance, resulting in about 50,000 tonnes of zinc in concentrate being taken out of the market.

"We continue to take decisive action to reduce spending in our mines, and further mine operation suspensions may be necessary if the depressed metals price environment continues," Nyrstar chief executive Bill Scotting said in a statement.

Nyrstar said last month it would consider cutting zinc concentrate output by 400,000 tonnes if prices remained depressed. That would be on top of 100,000 tonnes removed by the earlier suspension of its Myra Falls operations in Canada and Campo Morado operations in Mexico, it said.

Zinc three-month forward prices are hovering around six-year lows and are down a third since early May.

Nyrstar has also announced plans for a rights issue of 250-275 million euros ($272-299 million) to shore up its balance sheet.

"We expect to complete the process to divest the majority or all of our mines over the course of 2016," Scotting said on Monday.

[karmastuartra] 07/12/2015 11:54

Nice One Million buy.

[karmastuartra] 07/12/2015 09:40

Man the pumps stand by your beds!

[karmastuartra] 07/12/2015 09:36

Battle Stations!

[karmastuartra] 07/12/2015 09:32

Dont panic mr manwaring!

[karmastuartra] 07/12/2015 09:30

Nice rebound about to happen

[karmastuartra] 07/12/2015 09:10

Lots of Profit taking,normal behaviour

[karmastuartra] 07/12/2015 08:30

Tree shake then up up and away!

[karmastuartra] 07/12/2015 08:21

Prepare the rocket scotty,warp speed!

[karmastuartra] 07/12/2015 08:16

Another good day beckons,Mark that down saddo!

[karmastuartra] 04/12/2015 21:26

Maybe i wont regret my buy after all !

[tidy 2] 04/12/2015 16:19

Big bounce

[brahmsnliszt] 04/12/2015 14:49

Nice move today

[flugelhorn] 04/12/2015 11:49

Uuu7uuyiiz uz €:?

[luckyvince] 04/12/2015 10:13

More of a 3.8p person myself. looking at the candles.

[celeritas] 04/12/2015 10:10

zox is loss making at current zinc prices, buying is gambling that zinc will turn up soon enough to save the company.
Essentially it's priced to go out of business.

[alexios1201] 04/12/2015 10:06

2.7p is the exit

[tidy 2] 04/12/2015 09:54

MM's moving to 1.15.

[loganair] 04/12/2015 09:36

As far as I see it all depends on whether ZOX can survive the current collapse in the price of Zinc. 'If' ZOX is still around in 2 years then anyone buying in now in my good opinion will do very nicely out of it, very nicely in deed.

[tidy 2] 04/12/2015 09:35

All over Twitter today = take a punt.

[tobytime73] 04/12/2015 08:12

mms turned into buyers at ZOX!

bounce back to 1p+ is on