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Southern Copper Corp. Message Board

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  • Reply to

    OT--where's roger?--OT

    by dar200 Aug 18, 2014 3:31 PM

    Dar ..... I do my taxes every year with the latest turbo-tax software (and sometimes with the aid of a CPA) and ALWAYS answer all prompted questions honestly. A couple of years ago I didn't have to take a mandatory distribution from my IRA's, but I do now.

    Rest assured, that when preparing my 2014 taxes and when turbo-tax prompts me about a timber cutting capital gain I'll answer to the best of my ability.

    I'm not trying to evade giving Uncle Sam their fair share of any hard earned profits that they so obviously and richly deserve.

    I do feel really badly that my previous in-artful post and "what if" questions led you to believe that I would evade anything.

    There ..... I feel like a weight has been lifted from my shoulders now that we've resolved what was clearly a little misunderstanding.

  • Reply to

    OT--where's roger?--OT

    by dar200 Aug 18, 2014 3:31 PM

    You just put in writing enough to convict you of felony tax evasion. To get to felony they have to prove you INTENDED to evade tax. They have to prove what is in your mind. You just handed them the proof.

    Don't be stupid. You bragged a couple of years ago of paying zero income tax, a dumb situation with mandatory distributions from IRAs. A married couple can pay ZERO income tax on long gains up to about 70,000. You can probably file an honest tax return and pay little or no tax on the timber proceeds

    Leave an envelope with someone to notify this board if you get hauled away to prison for STUPID tax evasion.

    Don't think the IRS cannot find these messages, even if we both remove them. That post is so dumb you now have to report the income. So don't forget the capital gain election.

  • Reply to

    OT--where's roger?--OT

    by dar200 Aug 18, 2014 3:31 PM

    Hmmm ..... let's see ...... capital gain election. Did you say capital gain election???

    Hmmm ..... I'm trying to figure out who would report the proceeds? The cutter has given me three checks and will mail two more on a weekly basis when everything is scaled (with a one week delay). He has my name, but not my full name, only my middle and last names..... naw, he's not going to report it and couldn't even accurately report it to uncle Sam.

    Who then should report any capital gains? I don't want to think about it ..... it's just too complicated. Why didn't I have this problem for the previous cutting? Nobody called and said I missed reporting a capital gain on timber cutting and that was 20 years ago..

    Dar ..... you've got to be wrong, I think I'll just wait and see what happens ..... if anything.

    And please Dar, don't start telling me about the reporting procedure ..... I'm an old man and I just wouldn't understand.

  • Reply to

    insider buying

    by gr8day2buy Sep 9, 2014 9:37 AM

    LOL... that was some thick sarcasm. Clearly the guy knows what he is doing. I'm just surprised there was not more of a market reaction. Could be that once there is any news of China or US building increasing... this will take off.

    Sentiment: Buy

  • Reply to

    OT--where's roger?--OT

    by dar200 Aug 18, 2014 3:31 PM

    Thought you were dead without an immediate retaliatory response. Please give someone an envelope to notify us when you die so we won't worry about you being thrown in jail for polluting the river.

    Speaking of dilution, Cananea is getting a huge flushing rain today. Hope those pregnant leach solution dams hold and the rivers get a good flush. Not disclosed yet is how much copper was in the spill.

    Don't forget the capital gain election on cutting timber.

  • Reply to

    Anyone here remember the 14% dividend

    by uptiicker Sep 12, 2014 5:02 AM

    Yeah, I bought it way back when the dividends were sometimes spectacular. The recent insider buying may mean a return to glory days…PLEASE!
    At least I have reinvested those dividends for the past decade……we shall see…copper ain't going away! I says "buy" because I am optimistic...

    Sentiment: Buy

  • Reply to

    Larrea more than tripled his direct ownership

    by dar200 Sep 11, 2014 1:23 PM
    goldmanpillageandsack goldmanpillageandsack Sep 16, 2014 10:06 PM Flag

    Insiders already own 81% of the company. Perhaps they will be taking it private? Or will they buy Yamana (AUY) for it's copper, silver, molybdenum and gold that is worth something well over $100 billion? Heck, Yamana's stock is at 7..28 and its market cap is in the low $7 billion's… Could be a great buy!

    Sentiment: Strong Buy

  • Reply to

    OT--where's roger?--OT

    by dar200 Aug 18, 2014 3:31 PM

    I'm back today after 5 weeks in the boonies!

    I resent your remark about my washing in the lake ...... it's the RIVER and the greenies are not a problem since the current washes away any #$%$. Always remember the solution to pollution is dilution!

    I finally got my land selectively timbered and yielded 550 cords. For you dummies a cord of wood measures 4 feet wide by 4 feet high by 8 feet long of SOLID WOOD since it is determined by weight of the specific species involved which in my case was about 45% red pine and 55% white pine. That represents a solid piece of solid wood 4 feet wide and 4 feet high and .83 of a mile long!

    The amazing thing is that apart from about 3 acres that I clear-cut and will replant with red pine, I'm still surrounded by a thick and now much healthier forest! Many of the trees I had cut were 9 sticks, that is, nine cuts of 100 inches each excluding the tops. That means the living tree was better than 85 feet tall.

    Sadly, I probably won't live to see another cutting in about 20 years but it's nice to know the two cuttings I've done since I've owned the property have easily covered my initial purchase price plus all improvements that have been made AND most of the property taxes.

    Cheers

  • Any possibility it will ever go over 5% ?

  • Reply to

    insider buying

    by gr8day2buy Sep 9, 2014 9:37 AM

    Insiders already own 81.3% of this company. They have every reason to buy shares with their income from other sources. Insider ownership is a great thing for shareholders in that it gives management incentive to grow shareholder value!

    Sentiment: Strong Buy

  • Reply to

    PRICE TARGET 45!!

    by monett4 Sep 11, 2014 11:21 AM

    Sure is! As copper recovers the miners will do well!

    Sentiment: Strong Buy

  • Reply to

    OK, I'm in...

    by cthekingdom Sep 11, 2014 2:43 PM

    I'm thinking this is a good entry as well. Do you think that SCCO will scoop up Yamana (AUY)? After all Yamana is undervalued by nearly 200% and has Agua Rica in a near shovel ready condition. $50 billion in copper just waiting for the Mining district to be formed and the railroad to be built. All mining equipment is nearby at the nearly depleted Alumbrera mine and $20 billion in Gold, Silver and Molybdenum just waiting to be dug up.

    Sentiment: Strong Buy

  • Too many factors in SCCO's favor right now to pass on it....

    Sentiment: Strong Buy

  • Before this buying spree began Larrea owned 249,367 shares, mostly purchased in the fall 2008 and spring 2009, at the same time Grupo was loading up on dirt cheap shares.

    Beginning on 7/30/14 thru 9/10/14, he has purchased in the open market 770,000 shares at an eyeball average of 32 per share......about 24.6 million. After the 9/10 purchase of 50,000 he owned 1,019,367.

    So, in less than 1.5 months the chairman bought in the open market more than 3 times what he previously owned directly.

    This ain't a token purchase and he is not doing it to prop up the price. IMO, he's doing it to make a profit.
    The dividend stinks and will continue to stink until the buildout is finished, so it must be appreciation he is after.

    Is this a prelude to Grupo taking out the non-grupo shareholders at a small premium or is it just he knows the price is too low compared to future prospects???? Don't know the answer, but am glad to see the chairman speaking so loudly with his own cash that he thinks the price is too low.

  • Reply to

    insider buying

    by gr8day2buy Sep 9, 2014 9:37 AM

    Geez you know more than the Chariman. That was a lot of buys he must be moron to have put himself in the position of buying $25M of stock with pocket money.

  • OPPORTUNITY!

  • Reply to

    insider buying

    by gr8day2buy Sep 9, 2014 9:37 AM

    Velasco has an excellent record of buying low and selling high--you can see all his buys and sells in recent years at the J3SG website. He knows when his company is a bargain, but timing depends on when the market recognizes it. Patience required.

  • Reply to

    insider buying

    by gr8day2buy Sep 9, 2014 9:37 AM

    Dumb buy for the insiders...they are already losing money. They should have waited til it is under $30....more downside coming, as there is no catalyst to drive the price higher....

    Sentiment: Hold

  • I thought it might have more impact on the pps. This is still a wait and see for me.

    Sentiment: Hold

  • Oh, that's right it's a copper company. Nickel and Penny stock! So cheap on the bid and ask right now. Got to be ready to make a move upward soon. Can't get more boring than this! Can it? EA

SCCO
32.20-0.33(-1.01%)Sep 17 4:00 PMEDT

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