metal price bottomed up, page-16

Kagara's future, if there is one, is ultimately tied to what future potential prospective buyers see in their asset base and what they are prepared to pay for it.

Even though zinc has markedly improved over the past few months, I fear the the GFC2 has yet to run it's full course and may not do so for some time. I was speaking yesterday to a major auto production manager in Berlin, who said that their order books are declining rapidly. Especially, in China.

There is still a lot of weakness out there and QE seems to be like throwing more credit at the credit weary, which ultimately has little effect.

That said, 2013 looks more like a year of improving growth. If Buyers of KZL assets think the same, then they may well get more for them now. But that remains to be seen. Their not dead yet but a lot needs to improve and soon before we say they won't be.