"Companies would typically seek a CTO in order to keep information that would otherwise put it at a disadvantage, a secret. For example, a company may apply for such an order to keep information regarding a pricing arrangement made with a partner, secret, since competitors finding out this information may go after the partner with a more competitive price."
Interesting 90th percentile cost figure of $2.16 per pound. Last year the cost figure being tossed around was $2.90 per pound. A rising US dollar and falling energy prices has a changed the cost curve substantially.
Google the topic title. A good article on the state of copper mining in Chile and its problems.
"In 2009 a shovel operator earned $47,000 and last year $69,000, a 47 per cent increase, according to his data."
This article is a free pass but here is a quote if yahoo will allow it.
"“With all of these mines now coming off or having a lot less production than we were expecting, we will be in a deficit market this year,” said Daniel Belchers, a commodities fund manager at Columbia Threadneedle Investments in London, which has $600 million invested in commodities.
Mr. Belchers said his fund turned bullish on copper in recent weeks after wagering less money on the metal than suggested by benchmark indexes.
Other investors are following suit. After betting against copper for 23 weeks in a row, money managers as a group turned bullish on copper futures and options in early March, according to the U.S. Commodity Futures Trading Commission."
Google the topic title for an article on copper at the Wall Street Journal.
"A roadblock by striking workers in Indonesia. An electrical failure in Australia. Mudslides in northern Chile.
A flurry of disruptions to the world’s copper output is lending support to the $87.5 billion futures market for the industrial metal, which for years has been weighed down by slowing demand in China, its biggest customer."
Thumbs up for this post Dragon. I also heard Perron say that if market conditions remain where they are today they would make 180 million EBITDA. From this we can get a read on what TCM thinks year end cash will be. If we take off 80 million for capital expense and 90 million for interest and the remaining T-Med and add 30 million for non cash expense of selling moly from inventory, TCM should produce 40 million extra cash. The year would close with $306M in the bank. Not great but positioned to get rid of the secured bond in the first or second quarter of 2016.