Maintain an “increase in holdings” rating. Assuming that 2011-13 zinc prices were 17784, 17500, and 18,000 yuan/ton, we forecast the 2011-13 EPS to be 0.10, 0.04, and 0.07 yuan respectively. The resource value of the company's Lanping lead-zinc ore provides a high margin of safety, while the acceleration of the molybdenum and copper project and the construction of the vanadium and titanium project will increase the company's financing needs. In the future, mining asset injection expectations are expected to increase due to the consideration of reducing related transactions and increasing the profitability of smelting projects.