these losers had over a year to get this straightened out. Absolutely Pathetic. And yet they are still in charge? They better not get any stock options or bonuses for this dereliction of duty. They should get off their #$%$$ and grab a shovel and get to work fixing this disastrous project they levered up the company and been selling diluting with stock too. Get the %$#@ moving!
% Held by Institutions1: 97.50%
These boys better have a 2 to 5 year outlook. If someone is forced to start selling a sizable position it could go down hard and fast.
Mooresboro is going to have to show full potential of 15M tons to keep the boys on board.
the lawsuits will commence once the plant is up and running. It is NOT a good idea to sure the folks you are asking to fix their mistakes.
Royal Cluster at least through the fall. I think they said that last year at about this time. There excuses are all over the place for not having reached 15M/tons monthly a year ago. Hope to hear someone give a real target for what to expect as the achievable monthly output that can be expected from this new system they now have had a year of experimenting with. I for one will be shocked if 15M is still considered the practical target and someone is willing to put their name behind that target.
if they can't get the dam n thing up and running right after all this time they need to 1)sell the plant to a Chinese company and 2) fire themselves 3) surrender their "zinc" parachutes to stockholders.
Mgmnt was/is suppose to know what they are doing. These guys are not newbies. I am beginning to think of Moronsville in terms of it being a royal cluster ____ (you fill in the 4 letters)
I'm looking at it as an investment and the one year chart seems to reflect the huge miss in the production seen from Mooresboro. Latest promise:
We remain focused on ramping up to our interim goal of 75% of nameplate capacity, which we hope to achieve during the third quarter.”
(75%) goal after waiting this long is now the goal? ZINC is a show me stock. I'm really afraid their original calculations for Mooresboro may be unattainable. I do like the zinc sector and have it on my watch list. Hoping for the best but not ready to put money in at this price, yet.
the stock has moved up since that announcement I think you need to reread it with a more positive mind and see what you missed.
Now at -0.22
negative cash flow
Mooresboro producing 4 tons/mth, yet was expected to be producing 15 tons/mth a long time ago. Not sure Mooresboro projections will ever be near what company originally projected?
Next quarter and next year estimates also lowered. Mooresboro facility update came out yesterday and was full of excuses. Guess these analysts knew something when they were taking down estimates. Unless they just got the news when we did and need to lower earnings estimates again.
To make this stock work three things have to happen: (1) they have to keep costs in control (2) they have to get production cranked up to the new plant's design capacity and (3) zinc prices have to rise. Can't yet say much about the first,but latest production news is very encouraging and the ability to sell about half of the second half's expected production at $1.07 per pound vs a June price of $1.01 indicated that the market expects zinc prices to rise significantly in the near term.
I consider the stock quite speculative,but the outlook appears to have improved significantly.
Recognia is part of my trading account tools and looks for technical set ups...this was one of the featured trades today...I am hopeful!
Sentiment: Strong Buy
it seems more like quality of equipment and design but I do wish they would update more often, no response form IR yet either.
I am thinking they need to sell out to a Chinese operator who knows how to run a plant.
Wonder if it could be the "higher" quality of zinc they were suppose to produce causing the problem(s).
I also am of the opinion they should have this plant up and running by now. If there is something amiss in the process then they should be looking at filing a lawsuit against the contractor, vendor, designers every and any one - you know - how plaintiff lawyers do! If they are not looking at filing a lawsuit then the problem is within Horsebutt.
wellactually they are at about 25% with one month down so without a month down they were running at close to 40% capacity The problems will eventually be worked out but it is taking longer than anyone expected so not a great sign
Horsehead Starts Zinc Production at Mooresboro, NC Facility
...The facility, which started construction in September 2011, is expected to have initial capacity to produce 155,000 tons of zinc per year. Ramp up to the initial capacity is expected to take up to six months. Construction of the co-product recovery circuit at the plant is expected to be completed mid-year and its ramp up is expected to occur over a twelve month period.
(Not near 10% of that level yet, investors would like to know how management could be so fa r off on their projections)
GLTA, the raising of cash may be telling us the solution is further off than we are being led to believe. Bottlenecks?
Earnings projections continue to fall all the way into next year. I'm starting to believe someone needs to admit something about "The new zinc facility uses a technology which is completely different from that used at our former Monaca smelter."
"The primary bottleneck thus far has been the removal of solids at the front end of the process. " Note they say 'primary' as if there are some bottlenecks in this new technology they are not covering with investors???
* fully operational, is expected to produce 155,000 tons per year of zinc metal
* The facility produced approximately 10,000 tons of zinc metal during the quarter
As you said, What's wrong with this dog? And the earnings projections continue to slide.
DO you think this wil turn around in due course? It is a low cost producer of Zinc and should benefit in the long run.
the main problem as I see it is that they spent a huge amount to make a new plant that would produce Zn at a very low cost but have not been able to get it to run properly. Some heads should roll over this deal, engineers, architects, contractors, someone needs to be grilled.