It will not see any action till June 2013. When we may find they may need even more money and the dates for Mt milligan will be pushed further down. I think they are off by a billion in their cost estimates.
I am going to nibble a bit as the tax loss selling hit. No short term driver here. Europe and Japan are in a recession so base metals should not spike. Gold---no clue. That one marches to its own drummer. Either way, I think this is de-risked a bit now that the $350 is in place.
Your analysis isn't logical. First of all, after so much bad news driving a stock down, no news is good news.
Second of all, you shouldn't be allowed to comment on here until you actually read the recent earnings report and investor presentation. You can't just say that TC is going to be a billion over budget (which implies they will go another $400 million over budget) when that's not even possible. TC has less than $200 million left to be spent on Mt Milligan, the rest is already completed or has contractors assigned to it. So unless that $200 million is inflated up 3x to $600 million, or there is some sort of natural disaster or major blizzard for months on end, then TC isn't going over budget. Not by $400 million, and not by $100 million.
If you're banking on a blizzard that's fine. Then just say that. But simply stating a stock isn't going up until June and suggesting it goes over budget with no signs pointing to that is foolish. You should check out the Mt Milligan progress reports.
By the way I find it hilarious that everytime TC goes up (almost on a daily basis) there's people on here saying it is going to the moon and beyond. Then it drops for one day and people come on here saying it won't go up for 8 more months. News flash, this stock is way up from previous lows at $2.20's and it's gone up from $2.50 to $3.20's in a month. Now it's back down, but highs are getting higher. If it crosses below $2.50 then we'll talk. Until then who cares.
Totally factless and useless comment from a shortie. Catlayst is most recent earnings report and logical review of their position. Yes, you are in the perfect postion to think they are a billion short and you have convinced all readers of your post. Do you think we are all without a brain?
Gold will be in 3 digits after we go over the fiscal cliff. Rgld will be in even more trouble. Imagine gold at 900 and we are still not in production. Thats why they made a haste in procuring 350 million. The cliff weighs.