IGO 1.30% $6.25 independence group nl

huge reserve statement, page-9

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    I wouldn't hold my breath on a 65c/lb zinc price. Zinc prices aren't expected to recover until 2005. One thing to remember about aussie zinc producers is that in aussie dollar terms, zinc is at an all time low. I currently work at a zinc mine and management made a decision recently (4 weeks ago) to leave it in the ground and mine the copper instead. I have also seen some articles that suggest the aussie batler will be up around 80c/$US by Dec 2004.
 
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