PLA becomes next large aus mining company goes into...

PLA becomes next large aus mining company goes into adminstration.

The whole market start to recover a bit after 30, June, will continue bullish trend for a while, but Aus mining got serious trouble --China got record high coal & iron ore inventory in 2012.

Dollar is still berish, and AUS gov just doing nothing with this situation, let's just see more companies gone.

Investbank looks like is interested to takeover KZL's asset, otherwise it won't put decent money in. The positive signal is so far there is still no decision yet for whether keep going or just selling all of the assets of KZL and selling is listed as the last option. This indicates Investbank may inject more funds to reopen the mining operation at certain condition.

IVA starts to produce copper this year, annual production is same as KZL--20kt. I just hope the new owner of KZL can switch the mining strategy to produce copper only then pile up the Zinc feedstock until Zinc price recover to $1.05/lb. In this way, KZL can survive and go ahead to produce 150kt copper in next 6 years.

If there is no more companies are intersted in KZL's copper operation, I wish Investbank can help KZL to restrat copper production.