crackle, first of all, hope you and all had a Happy Turkey Day.
End of 2015 TC has approx. +200K, in 2016 they have interest payment of approx. -80K, then again in 2017 they have another interest payment of -80K, on top of that the approx. -300K bond comes due. In 2018 there will be interest payment of -50K. Way to many negative numbers.
I bought some shares this week. Maybe that's why volume was high.
Wanted to add some more color on China's Oct copper imports...
Jan-Oct concentrate is up 9.2%. Oct was the 4th highest month of the year for concentrate imports.
Concentrate imports have been up every month this year except Jan and Sept.
October's refined imports were the 3rd highest month of the year and the other two were Aug and Sept.
Oct makes it 5 months in a row that refined has been up.
Total copper imports have been up 5 out of the past 6 months. Sept missed being up by 8kT.
Total copper imports are down Jan-Oct 1.7% but up 2.9% from Mar-Oct.
Pretty darn good for a slowing economy which commands 45+% of worldwide copper imports.
If you are above the roses, and are fortunate enough to live in the U.S. of A., and you can read this, you have much to be thankful for.
For the many blessings we have all received this year, we give thanks....
Likely you are correct. Further, circumstances of sale filed with SEC, and being pre-filed, are outside black-out period restrictions.
As to TC black-out periods for senior management, the most restrictive case I have been involved in, a company with about 12k employees, the period began two weeks before the end of the quarter, and ended two days after public filing of quarterly report. The b-o period was in effect for all employees.
In another instance, with 60k employees and worldwide scope for employment, the b-o only applied to local senior management, not the local operation junior employees.
It's hard to say. And the word "recover" is subjective. In my opinion, as we go through 2016, production of copper will decline. At least TC doesn't mine coal or iron ore. Happy Thanksgiving Crackle.
Silly- if you have an alternate reason why tc would trade significantly higher volume this week while rest of mining trade volume is below avg, I'm all ears.
You guys mentioned the probe into copper shorting. I thought I read this might apply to other metals as well.
Not sure how serious China is with their probes. (Much like the US). Plus, it could take a long time.
Saw that LME stocks dropped below 250kT down to 248kT. The lowest since Jan 2015.
Vedanta will mothball its Nchanga mine in Zambia starting on Nov 27.
Chinese smelters plan to take action against falling cu price. I wonder what they have it mind?
Saw reports that China plans to buy copper to stock up its strategic reserves.
Saw reports that some funds are starting to reverse their bearish copper bets due to end of Nov/end of year squaring of positions.
Antofagasta reported that their Los Pelambres mine production was down 11% YOY due to 'community actions.' The locals there are very upset due available water. In fact, a judge ordered the mine shut down. But the mine continues to operate pending an appeal.
Thanks for that report, energetlc.
One of items, bernie was trying to steal was "pharmacy items". When Do look at the 2013 mugshot, Do see the rodent bite on bernie's forehead. Maybe bernie was trying to procure (that mean get) an antiseptic spray'
You can't be too careful with rodent bites
If you google....."Bernie Ellis Mugshot".......you will see the official mugshot to the corresponding crime.
You didn't really believe arnoldboils was a bond trader, did you? lol
While you all are waiting for the turkey to cook, I have a question for everyone based on an article I just read today. in Bloomburg, titled "Copper Faces at Least Two More Years of Pain, Rio Estimates." The gist is such that a consensus is building that copper prices will not recover until 2017 or 2018, and at that point it will be quick recovery.
My question is (assuming all this to be true), can TC last until 2018 or 2019 in order to benefit from such a turnaround? We have all discussed the financial options TC might pursue this coming year perhaps, but can any such measures ensure that the company survives long enough to not be done-in by the 2018 and 2019 unsecureds?
I shudder to write this, but I suspect it is the large institutions "quietly" backing out before a delisting, where if I am not mistaken they would have to dump pretty quickly on any such announcement. But what do I know, I am a long bag holder.
I'm sorry private I've got nothing against you but I might be missing something here because it seems so illogical to me. You get 1M shares traded in a single day. You get 32K of those shares sold by Perron. How does this 32K explains the 1M volume?? It's not as if Perron sold 2M shares over a few days? Massive volume must be big shareholders dumping shares, selling hundreds of thousands of shares.