RE: Zinc -smokeR190 has stellar economics. It will be profitable in ALL price environments. Opex is $0.18 lb. Shipping and smelting is $0.37 lb. Everything above $0.55 lb is cash flow. Multiply by 270MM lbs metal and even nimrods can figure out the economics.
The follow on deposits are lower grade, but with the ability to use DMS, they upgrade the ore to similar grades as R190.
And they will get debt financing. Won't be on as nice terms as they would have rec'd a few months ago, but it is available. Plenty of junior miners have arranged debt packages in the $100-$500MM+ range in the last few months. Largo just announced 75% financing on their $125MM Vanadium project in Brazil. TAM should be able to arrange similar levels of debt financing. And with the Fed lowering rates, the cost of financing is coming down substantially. I saw some plays forced to accept 14% interest a few months ago when the credit markets were really backed up.
What is hurting is the delay by the MVEIRB issuing the permit. They are well beyond their anticipated release date - lazy bureaucrats appear to have taken a month long siesta over the Xmas break.
As for those thinking the world is coming to an end, it simply must be xenophobia at work. World GDP will be 4.5-5% this year. Chindia still expecting ~10% GDP growth. Middle East oil money causing a building boom. Fed is stomping on the accelerator by lower rates aggressively and relieving pressure in the credit markets. US economy will accelerate strongly in H2 and will far exceed current gloomy outlook - just wait and see. 6 months from now it will be clear that Monday was the bottom of the cycle. Will bump along for a few months while the usual handwringers hold forth and have their day in the sun. They'll crawl back into their caves soon enough.