Hi Folks
In 2007, the mining shares bottomed around August 15th and performed well for the remainder of the year and into March. The producers move first followed by late stage developpers and than the explorers.
Here is last year's chart.
Aug to Dec 2007
http://stockcharts.com/h-sc/ui?s=$HU...
Zinc market:
Haywood Securities advised that the zinc price is below US $1.00 per pound for the first time in three years due to oversupply, which is expected to persist through the balance of 2008 and early 2009.
Haywood expects an average price of $1.00 per pound in 2009. They expect strength to return to the zinc market in 2010 and have increased their corresponding forecast to $1.10 per pound that year. A zinc market imbalance (supply deficit) is expected to continue into 2011 and 2012 and have increased their forecast to $1.20 per pound in those respecful years.
Side note:
Teck Cominco Vice President, Concentrate Marketing, Andrew Stonkus says that predicted surpluses for 2009 may come up short. Mr. Stonkus told analysts that the company's orders have been very strong this year, Teck has already sold out its zinc and copper metal concentrates for 2008.
In addition, many analysts are expecting a robust market this fall for silver and gold. This all bodes well for Abcourt Mines Inc.
A update on our projects will soon follow.
All the best,
Joe O'Brien
Abcourt Mines Inc.
