PM from Derb
He just doesn't give up. He's mad about the Zinc post. I don't give a flying #### where they send the concentrates to, as long as they make money. All these metals are in demand. BOTTOM LINE IT IS A SELLERS MARKET.
loadedgun
Don't know if you have done your research or not. I have. Take for instance Unico's contract with PGM, it is kind of strange. Since the product is being shipped to Los Angeles.
Why is that strange? There is no primary lead smelter in Los Angeles. The only primary lead smelter in the US is the Doe Run smelter a thousand miles in the other direction.
A primary smelter is a smelter that takes lead in concentrate form from ore and seperates the various metals. There are seconday lead smelters, smelters that take things such as lead that has already been smelted are resmelts it.
The other two closest primary smelters is the Penoles smelter in Mexico where Unico sent thier last batch and the Tec Cominco smelter in Trail BC. Why do you think Unico shipped it to Mexico last time? It was thier best choice.
This is all verifiable information. Start googeling around.
So now we have verified that there is no smelter in LA, what is PGM going to do with it once they get it? They have to be able to turn it into money in order to pay Unico for it.
Have you read Unico's PGM contract? They are only paying shipping to PGM's facility in LA. Been there, no name on the building and it was last business licenced as a print shop in 2004. There was no business licence for any of the five business that show that address on thier corporate filings. In fact there was no business licence at all for that building when I checked.
The lead contracts I have seen deduct three units off the lead per ton. A Unit is 1% or 20 lbs. Three units is 60 lbs. I would expect to see this deduction of the lead payable in the contract. Missing.
What would I need to see in the PGM contract? The ability for PGM to perform and make a profit. When the contract is what appears to be above smelter rates to Unico and the buyer is stuck with the shipping of this concentrate somewhere so that it can be processed it means that every shipment is turned into money at a loss.
What are the chances then of this being a good contract? I say slim to none. So it remains to be seen what Unico comes up with for thier zinc.
It is not as though I just spew stuff out of thin air, I actually look into this stuff.
So, go to the SEC filings, pull the contract, pay three bucks to the LA City Clerk's office like I did and have them run the address history. I checked in May 2006. Then find some other lead smelter contracts and compare and come to your own conclusions.
I did everything on my end that I know how to do. Don't be upset with me if you don't like what I have to say. I would not have gone through this effort if I did not smell fish when Unico came out with the first PR on this one.
Hopefully you can see that it is fair for me to ask what they intend to do with the zinc after researching the lead concentrate contract.
Derb
AI
