While we are on the subject of facts, you reckon zinc is at historical highs. From 1965 to 1970 the zinc price was stable at around 15c
Zinc price in 1965 was 14.5c http://minerals.usgs.gov/minerals/pubs/metal_prices/metal_prices1998.pdf page 173
The US $ buys 7 times less now than 1965 from the Berkshire Hathaway latest report : Even in the U.S., where the wish for a stable currency is strong, the dollar has fallen a staggering 86% in value since 1965, when I took over management of Berkshire. It takes no less than $7 today to buy what $1 did at that time.
14.5c times 7.23 = 104.8c to have the equivalent price to 1965 you can find the $ inflation calculator here http://www.dollartimes.com/calculators/inflation.htm
oil price is also a lot more than 7 times 1965 levels and as it makes up a large portion of mining costs, this just adds to the case against you. In 1965 oil was $3.10 per barrel we all know how much it is now.
KZL Price at posting:
17.5¢ Sentiment: None Disclosure: Held
