Ann: Notice of Meeting for Woodlawn Funding General Meeting, page-25

The problem is this if you add mineable reserves in the 10 year time frame by the time you discount it back to current value at say 8% it's value is negligable. Further we know Zn is fetching around $1.20 / lb now, but the long term price of Zn for decades before that was 90c. Further producers respond to high Zn prices causing that. It's sent numerous Zn producers broke in the past an pretty much did it to the biggest which is now OZ minerals and out of Zn (in fact it occurred at Woodlawn too!)

When you factor the combination of those elements into your thinking you want to damn sure you have the value up closer to the front. Now these PE houses know most of this but they've taken advantage of it to as you put it "bend us over double".

That's why I'm saying we put in the blood sweat and tears to get the mineable reserve at the time when the Zn price is reasonable and shouldn't be the ones who get the rough end of the pineapple. There is a Zinc window which posters have been screaming about. I screamed less then them till I heard 'the jangle of the belt buckle'.