At least someone loves zinc!Chinese investors come to the rescue...

At least someone loves zinc!

Chinese investors come to the rescue of stalled Yukon zinc project

Metals Insider - 2008-06-18

Two Chinese investors have come to the rescue of Yukon Zinc, which ran out of financing options for its Wolverine zinc-lead property in Canada’s Yukon due to the credit crunch.

Jinduicheng Molybdenum, China’s largest moly producer, and Northwest Nonferrous International Investment, representing the geological bureau of the Chinese state of Shaanxi, are proposing a full take-over of the company. They outbid Griffin Mining, which operates the Caijiaying zinc-gold mine in China.

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MI zinc stocks analysis: Cancelled pipeline refills

Surface movement of LME-registered zinc stocks was negligible yesterday with rumoured heavy arrivals at Dubai still conspicuous by their absence.

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Sold out zinc improves

Zinc ended Tuesday with a narrow net loss after tracking copper throughout the session. From a morning peak at 1905 prices slid to lows of 1856 before improving towards the close. News of CBH Resources’ layoffs was regarded as indicative of falling prices and rising costs, though was in itself insufficient to spark fresh buying. Systematic CTAs in the meantime left their collective short unchanged yesterday, according to fund watchers’ estimates. A slack 2,815 lots traded overall.