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Southern Copper Corp. Message Board

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  • Reply to

    Another spill

    by dar200 22 hours ago

    According to 8K, just rainwater with some mineral in it. From 8-K:

    Mexico City, September 22, 2014, Buenavista del Cobre, S.A. de C.V. (the "Company"), a subsidiary of Southern Copper Corporation, reports that there was no second spill of acid copper sulfate solution at any of the reservoirs at the Buenavista del Cobre mine.

    As a consequence of heavy rains triggered by Hurricane Odile, the Tinajas 1 and Tinajas 2 reservoirs at the mine were overflowing with rainwater. Such incident was timely communicated to the relevant authorities on September 18, 2014. The Mexican Environmental Protection Agency (PROFEPA) has announced that such discharge derives from the rainwater and contains some ferrous elements below hazardous levels, which are not considered a health hazard. (link deleted to get by yahoo police)
    Water testing conducted through September 20th, 2014 by PROFEPA, CONAGUA and the Company reported normal acidity levels in the Bacanuchi and Sonora Rivers.

  • Reply to

    Another spill

    by dar200 22 hours ago

    According to 8K, just rainwater with some mineral in it. From 8-K:

    Mexico City, September 22, 2014, Buenavista del Cobre, S.A. de C.V. (the "Company"), a subsidiary of Southern Copper Corporation, reports that there was no second spill of acid copper sulfate solution at any of the reservoirs at the Buenavista del Cobre mine.

    As a consequence of heavy rains triggered by Hurricane Odile, the Tinajas 1 and Tinajas 2 reservoirs at the mine were overflowing with rainwater. Such incident was timely communicated to the relevant authorities on September 18, 2014. The Mexican Environmental Protection Agency (PROFEPA) has announced that such discharge derives from the rainwater and contains some ferrous elements below hazardous levels, which are not considered a health hazard. (link deleted to get by yahoo police)
    Water testing conducted through September 20th, 2014 by PROFEPA, CONAGUA and the Company reported normal acidity levels in the Bacanuchi and Sonora Rivers.

  • Reply to

    Another spill

    by dar200 22 hours ago

    Worse than that. The mine is flooded.

  • Reply to

    Larrea more than tripled his direct ownership

    by dar200 Sep 11, 2014 1:23 PM

    What are thinking today, any news driving this pullback?

  • Reply to

    Another spill

    by dar200 22 hours ago

    Having more fun & profit flipping NRF. Great flipper and if wrong on buy, over 9% yield which I expect will be all roc for a few years.

  • Reply to

    PRICE TARGET 45!!

    by monett4 Sep 11, 2014 11:21 AM

    Hi Goldman- still think SCCO might make a play for AUY with large copper deposit?
    It would be a steal for SCCO, may be spin off into 2 companies- when gold recover over $1800/oz in 2 to 3 yrs, sell it to GG or highest bidder.

    Sentiment: Strong Buy

  • Reply to

    Another spill

    by dar200 22 hours ago

    Hmmm ..... 11/15 am e.s.t ...... SCCO down 5.22%, FCX down 2.0% and VALE down 4.17%.

    Clearly the latest spill may be impacting SCCO share price today but it's not the only reason.

    Getting into buy territory IMHO for either a flip or long-term hold.

    Your opinion?

  • I expressed here hope the PLS dams would hold through the hurricane's rains. At least one did not:

    "Mining giant Grupo Mexico (BMV:GMEXICOB) said in a statement late Sunday the new leak was the product of heavy rains caused by Hurricane Odile, which hit the northwestern state of Sonora during the weekend, local paper El Proceso reports (in Spanish).

    Acid levels in the Bacanuchi and Sonora rivers, however are back to normal, according to the newspaper."

    I know we have not heard the last of the damages from these spills.

  • Reply to

    Share Price Drop

    by rogluther Sep 19, 2014 12:18 PM

    A knotty little problem.

    I suspect that those who are not locked-in will be selling Alibaba in the near future to reap about a 50% gain. Will that bring some $$$$ back to SCCO / FCX etc. ...... likely, but when?

    So far ..... as far as the spill is concerned it almost seems like a non-event in the eyes of the markets, the tutes and Larrea. Will it remain so, I think it's very likely.

    I also note that yahoo futures show a significant bump.

  • Reply to

    Share Price Drop

    by rogluther Sep 19, 2014 12:18 PM

    Great! You have just explained perfectly the way that the average crowd thinks: "let's sell SCCO to buy Alibaba IPO". Certainly Mr. Mota-Velasco is wrong in buying more shares of the best company of the best metal and they are right...

    Sentiment: Buy

  • Reply to

    Share Price Drop

    by rogluther Sep 19, 2014 12:18 PM

    I'm tempted but concerned we have not seen the last of the charges for the Cananea spill.

    Larrea continued buying well into Sep with the spill 8/6. Am conflicted......buy on Larrea or wait for spill damage known.

  • Looks like the tutes have decided to dump both FCX and SCCO today. Is it a lemming reaction?

    Maybe if we wait a little longer we will be able to buy-in at the lows of recent insider purchases. So ask yourself are the insiders smarter than the tutes or do the insiders just have a longer horizon?

    Maybe, just maybe, the tutes need free-up cash to buy into the Aliabba IPO.

    Could be a chance for a flip, or if you can wait, a chance to get more shares on the long side.

    I suspect a couple of years from now nobody will be complaining about the dividend.

    Just some thoughts.

  • 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

    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

SCCO
29.50-2.10(-6.65%)Sep 22 4:01 PMEDT

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