GREY:STACF - Post by User
Comment by
dwyomingon Oct 23, 2006 11:45pm
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Post# 11545724
RE: In 1980 Zinc was 35 cents/pound
RE: In 1980 Zinc was 35 cents/poundIn 1980 the auto industry was in the dumps, Chrysler bankrupt, etc. Autos were the biggest user of zinc along with construction steel and both were looking very bleak...US Steel died a slow death also.
So, the project was shelved.
Zinc was still mediocre in price in 1999. Placer had other trouble however as gold mining, its core business, was hurting badly with gold under $300. Lots of projects were let go, some with back in rights and NSRs and some just abandoned as exploration funding dried up in the mining industry.
Times change, mgmt changes, costs and revenues change.
--dwyoming