Value Microcaps Motherboard

[cliffvb]

EZM...c1001, EZM acquired the Neves Corvo mine by closed bidding in early 2004 for over $100 million and the company then had to scramble to raise the money to pay for it. That was also the last time that copper prices were down in the range that their hedges are at.

Times are different now, of course. High copper prices allowed them to pay off much of their debt last year from profits but those stinking hedges remain.