moving up nicely, page-3

impact of zinc prices - for tas Hi all - I posted the below early today but no resposne so far. Anyoen got any thoughts - I know tas follows and any thoughts appreciated. Price still strong, sell side has largely diasppeared atm.

"Yes big buyer comes in every morning and pushes it up a few cents then goes away till the next day.

I wish HER woudl update numbers to reflect current resource prices. My back of envelope figures are below.

They did BFS numbers at zinc and lead prices more than 50% below current prices. On my calculations this increases projected project cashflow by about $100 mill a year for around 7-8 years and so increases total project cashflow from around $270 mill in the BFS to around $1 bill using today's prices. HER
capped at around $60 mill. Those cashflow numbers do not include from what looks to be a similar but somewhat lower grade resource 800 metres away and already drilled out plus lots of other prospects in the same area.

As a comparison, Australian resources weekly said today said that that HER is trading at 12% of the value of KZL but has twice the zinc resource! I wish HER would come out with new numbers based on current
resource prices but nothing like that.

Been waiting forever for project funding to come thorough. Anyone got any comments on my guesstimates or ideas on financing?"

I obviously hold.

Cheers
hots