OTCPK:NNDIF - Post by User
Post by
ZincDinkon Apr 29, 2022 4:49pm
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Post# 34643716
Please tell me my math is wrong
Please tell me my math is wrongThey left behind about 3 percent of the zinc in the concentrate. they processed 128,852 tonnes which 3 percent is 3856 tonnes. Multiply by 2200 to convert to pounds to get 8,504,232 pounds lost which multiplied by $ 1,7 and they left 14.5 M$ in the waste.
Can you say shockingly bad performance? Maybe 3 % is a tad high, but its over 10 M$. The production drop was bad, but sending good zinc down the drain...
Luv how they soft pedal the increase in TC as being upto $ 170. Benchmark is 230 and now China TC are above bench mark.
https://www.metalbulletin.com/Article/5096281/Search-results/Negative-arbitrage-Covid-19-send-zinc-low-silver-lead-TCs-to-highest-levels-since-Feb-2020.html
Maybe China has figured out giving discounted electricity in perpituity dosen't make a business more efficient.
Man when I first saw these numbers, I was thinking management is deliberately sabotaging the plant or fudging numbers. Now feeling a bit more charitable and calling it gross incompetence.
I mean if we are trying to operate a plant full out, and Europe plants are operating at half capacity, how are we doing so badly when we have the gift of low cost clean energy?
You have won GC, I am beaten down and will surrender my shares at $ 6.