I think it is the last. They have had such good luck crushing the stock price that they probably want to play with a rock crusher now.
I don't have your accounting credentials but even I can see a problem with $10.50 cash costs (and that is not all-in costs which are higher) and the current moly price of $9 and change.
Maybe you should take up software and give up accounting...
Yes that would be ok with me. Perhaps with a royalty rider contingent on moly prices. I have seen this with other miners. If the price of moly is above, say, $12, then TC gets a 10% royalty on production (I made up the figures, but something could be worked out)
"Examining other options with partner"
I can think of many other tunes.
"Load 15 tons and what do you get? Another day older and deeper in debt"
"One of these days these boots are going to walk all over you"
When it was $3, everyone was calling for $4 to $5 in a few days and it went to about $3.06.
That is about what I expect if we have decent CC news. A move from $2.20 to about $2.26, maybe as high as $2.30.
"My first thought was, he lied in every word." - Robert Browning
Look at Regulus. Has gone from $7 to as high as $25 yesterday on a phase 1 drug that Gilead already is selling the cure for.
When this blows, it is going to blow big, not small. One day it is going to open at $11, close at $15, then open the next day at $18 to $20.
Yes, there are no real winners here. Even those of us who bought "cheap" at $3 and $2.50 are hurting. The company should not be proud of where it is. They had some $700 million in cash before buying the MM fiasco, enough to pay every shareholder nearly twice the current price (actually more than twice since there were fewer outstanding shares).
Now they claim to know that moly will be weak for 4 or 5 years, yet in 2010 they thought they could predict everything and ended up dropping the stock from $15 to $1.70.
They should not feel pride.
I should mention that I now intend to convert the 92 calls into 9200 shares in Jan 2015 and hold those shares until TC reaches about $7.
Yes, I see that now. I just now dumped 6000 shares of common at $2.20 instead and will hold the calls. I figure if the calls are only worth $0.20 to $0.25 then they are about as good as holding the common when it is trading at $2.20.
not drive the strike down, drive the bid down is what I meant.
We shouldn't both dump on the same day I guess as that would drive the strike down considering the lower volume on call buying. Maybe I will dump some common and keep the calls for a few weeks.
92 calls that expire in Jan 2015 at a $2 strike. Purchased for $0.85 (offset some by Sept calls I was short that expired)
Very tempted to hold them a bit but when has a CC actually been good for the stock price?
I could probably dump them this morning for $0.30 to $0.35 which is a lot better than the $0.20 yesterday.
I agree with reg. You could have accomplished the same gains by buying puts on gold or silver ETFs. Silver has fallen from $20 to $15 which would have made you a fortune on your puts.
Dragon, how can #1 be a question?
It is like asking if Lucy will pull the football. She ALWAYS pulls the football.
See, if Lucy really wanted to screw with Charlie (and Perron with us), she would once in awhile let Charlie actually kick the ball. That would mess him up a lot more.