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February 5, 2014
09:03 EDTZINCHorsehead Holding provides update on commissioning of new plant
Horsehead Holding provided a status update on the commissioning of its new plant in Mooresboro, North Carolina, commenting that commissioning is proceeding as expected although affected by delays due to the severe weather conditions during the past few weeks and relatively minor equipment debugging issues that have arisen during the commissioning process. No significant issues have arisen from the activities completed to-date. A further update is expected to be provided when the company releases results for 4Q13, currently scheduled to occur on February 25.
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August 6, 2014
08:35 EDTZINCHorsehead Holding says outlook for zinc market 'remains strong'
The company said, "We believe the outlook for the zinc market remains strong, both in terms of demand and price, and the nickel price outlook appears also to be strong. At full zinc production, annualized EBITDA would be expected to increase by approximately $25M-$30M for each 10 cincrease in the price of zinc. While we were hedged through 2Q, as we entered Q3, we no longer had zinc hedges in place. We recently hedged 6K tons of zinc per month for August and September at slightly over $1.07/lb to reduce volatility during our continued ramp up of production at Mooresboro. We will continue to evaluate the desirability of placing additional short-term hedges during the remaining ramp-up of Mooresboro. Longer-term, the expected lowering of the businessís zinc-price break-even point, once Mooresboro is fully ramped-up, significantly lowers the risk associated with the potential for a drop in commodity prices."
08:34 EDTZINCHorsehead Holding reports Q2 EPS ex-items (6c), consensus (4c)
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