Q1 2012

[phili675]

Total contained copper in ore hoisted and mined was 13% lower than in Q1 2011 mainly due to the temporary suspension of the
Mufulira West operations by ZEMA coupled with relatively low loader availability throughout the period. After meetings with
various stakeholders and some equipment modifications, operations recommenced at Mufulira West on 19 April 2012. Total contained
copper in concentrate for Q1 2012 was 5% lower than Q1 2011 due to reduced ore deliveries from mining. Copper metal
from own sources therefore decreased in Q1 2012 by 7%. Lower receipts and grades of third party purchased material resulted
in total copper cathode production decreasing in Q1 2012 by 3% compared to the equivalent period in 2011.
• Finished cobalt production from own sources for Q1 2012 was 83% below the comparable 2011 period due to re-alignment of
Nkana Concentrator operations to produce more copper concentrate in line with the cobalt roaster being put on care and maintenance
(since 27 September 2011) to improve overall emissions performance.

[phili675]

Celà "ferait" 48 500 t x 4 = 194 000 /an x 10% = 19 400 t pour ZCCM

19 400 X 5000 $ = 97 millions $/ 1.30 = 75 millions €

75/89 = 0.84 €/titre

PER 5 = 4.2 € le titre sans évoquer les m.interest.

tout ceci est simpliste rapide...et volontairement approximatif, mais sachant que ZCCM cote 1.77 inutile de se torturer les neurones.

[jbd48]

5000$ , belle hypothèse prudentielle!