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3/14/17

Trevali (TV.to) dilutes again

So if I have this right, Glencore is exchanging fixed assets for cash by selling two of its zinc mines to a company that is, for all intents and purposes, its unofficial subsidiary while zinc prices spike higher and the market lemmings are all gooey about the metal.

I mean, what does Glencore know about the price of zinc anyway?*

And as the big fish hands off risk to the small one, the people running the small fish does the same by diluting the merry hell out of its long-suffering shareholder base once again. Meanwhile, don't expect any sort of criticism for this outrageous deal from the sell side whores in suits and cubicles, there's commish to be made from selling paper. 

*If you're a mining investor and can't recognize the irony, may the higher deities help you