IN THIS CASE an analysis of Zinifex Ltd's presentation on its financial results for the December 2007 half year gave a firm indication as to why the company would be highly acquisitive in 2008. Zinifex was well cashed up with 2.2 dollars billion in the bank (following a profit in the December half of 1.3 dollars billion thanks partly to the sale of its global smelters to new float Nyrstar) and was seen in the marketplace as having paid a premium for Tasmania's first nickel sulphide producer Allegiance Mining NL - agreeing to pay 1.10 dollars/share when some pundits valued Allegiance at 55 cents/share.
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