Now we may know why the recent rise in SCCO share price.
On 5-5-14 SCCO stated in the 10Q they expected to produce 672400 tons of copper in 2014 versus last years 670000 tons. So a rise to 800000 tons this year represents a 19.4% rise from the 2013 and an 18.98% rise from their 10Q statement on 5-5.
Since the latest estimate is only about 2 weeks after the 10Q estimate one has to wonder when did they really know about their latest estimate and more importantly ....... who else knew ..... ergo the share price pop.
It will be interesting to see if SCCO bought any more shares and when. Does anyone else smell a rat.
So ..... either Oscar misspoke or the reporter was deaf or the meeting minutes were wrong or somebody in the meeting told Reuters what was said or ..... ?????
But ..... in correcting the article, we just lost 2400 tons of 2014 copper production that the 10Q showed on 5-5 (672400) but ...... what the heck ..... that's only $14.4 mil at $3 per pound .... hardly worth mentioning.
Or ..... maybe when everybody sobers up, they'll correct the correction.