I don't know if they hedge any. But if I were in Perron's position I would hedge at $2.75-$3.00 . Not all but 50%!
Well w/o that gold stream deal MM was dead! I don't like streaming deals either b/c you are giving up future profitability but TC had no choice. At the time of building MM the cost for constructing a mine was probably the highest it's ever been. In fact there was a shortage of labor. Just terrible timing on TC part but every Gold and Silver CEO was spending like a drunken silver thinking we would never have another contraction in the PM market! Samething is happening in the Oil and gas field now but even they are not in as desperate a situation as the PM companies! In the long run these companies that survive will be leaner and in a much better position going forward because they have to be.
I really admire Rob McEwen. He is one CEO that puts his $$$ where his mouth is. He's also a proven CEO. But he also predicted gold to $5000. Guess he missed that call! But I would be glad to put my $$$ on McEwen again!
Might as well get falling Copper prices now. Everything else is going against the PM companies the last few years. Might as well add declining copper now.
I am also long TC but as you see some of these posters are absolutely blinded by TC. I HAVE NOT SOLD B/C what's the use? It's already been decimated. And yes it is more than simple tax loss selling! If it were so undervalued than why isn't management buying? That's the bottom line! The one's that no the most are not touching the equity!
No, but maybe those idiots on MSNBC...Sharpton and Schultz
I agree with Skippy here. If you are going to post short term catalyst then also mention the long term supply forecast!
I would also hope they would go the temp crusher option. Also see more analyst are calling for 1% on the 10-year. The rates to refi should really be a help!