We are sat on a Non recyclable asset just waiting to be dug out Glencore recognise it as a scarce resource, we are sat on a gold mine here ................... well not a gold mine but you know what I mean. well OK Gold as well and lead and copper, Bill can I have a job as AYMs PR director
Maybe we are in here at the right time now, guess who has lots of Zinc and lead in the ground .......... us !!!! Glencore has unveiled plans to slash zinc production prompting the biggest rally in the metal for almost four years.
Zinc, which is used in suncreams and to protect steel, jumped by as much as 7pc while shares in Glencore rallied 6pc in early trade after the mining giant announced it was cutting production at its mines across Australia, South America and Kazakhstan by 500,000 tonnes a year, or a third of its annual zinc output.
"The main reason for the reduction was to preserve the value of Glencore's reserves in the ground at a time of low zinc and lead prices, which do not correctly value the scarce nature of our resources," the mining giant said.
I think you absolutely right - personally I think share price will bounce along in low pennies either until cash support runs out when that will be that - or until commodity prices rise and if the shovels ever do come out will rocket upwards
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