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A lot has happened to Zinifex >>>>>>>>>>>>>>>>>>>>Nyrstar since the shares were riding the crest of a wave.

Metal prices have dropped and where once :mad:I had an opportunity to cash in my chips over $20 alas Im now in the gutter.
2008 has already shown a pre emptive planned slash in production to match the steel industry .....living across the road through out europre.

The green paper; as it now stands plans to scuttle our business.
 

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Sorry to hear but it's a cautionary tale for those working in the mining game and then ploughing there hard earned back into the sharemarket, i'm sure some of them will end up working for nothing over the past few years as it turns out.
 
Sorry to hear but it's a cautionary tale for those working in the mining game and then ploughing there hard earned back into the sharemarket, i'm sure some of them will end up working for nothing over the past few years as it turns out.
Hahaha the ones I know blow their $$ on women, gambling and alcohol :thumbsu:
 
Credit Suisse says OZ Mineral's (OZL.AU) revelation that refinancing of its two major debt facilities is due Nov. 30 is shocking. "This is extraordinary in our view and obviously raises suspicion about what else of a material nature management might be keeping from the market," CS says. "With new management already under market scrutiny, a large black mark has now been recorded. We are gob-smacked!" Says if OZL's banks play hardball the company is in no position to repay or renegotaite its debt in time, and that this, "screams insolvency risk". Credit Suisse says it understands the security for the debt is provided by the asset, so the banks could take assets, although this would appear unlikely. Says the more likely outcome is materially higher debt costs. Credit Suisse estimates OZL's A$300 million net cash position at Jun. 30 is now a net debt position of between A$400-A$500 million. OZL on trading halt pending agreement with lenders; last traded at 55 Australian cents.(APW)

It's kind of ironic that only a few years ago Pasminco went belly up, Zinifex rose out of Pasminco, then merges with Oxiana. It becomes Oz Minerals and seems to be heading down the same path as Pasminco.
 

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