Why would this be abnormal? MM is just starting up, like Ultra said, be glad it didn't blow up when they flipped the switch. They won't be running at full capacity 4Q so probably the costs will exceed the concentrate sale price. If this caught people by surprise then they should not be analyzing or buying this company.
It is almost like having a tree farm, throwing out seeds, then expecting the next day to have trees to sell.
Jacques Perron - Chief Executive Officer
"Well, our first priority right now is to make sure that we generate cash flow and we generate a lot of it. So we're going to focus on making sure that we get Mt. Milligan running as quickly as possible to full capacity, make sure that Mt. Milligan is pumping a lot of cash for the corporation. "
Lots of cash flow = happy investors in 2014.
It is our fault. We voted down repricing their options a few months back and now they are getting revenge by leaving us hanging on mine updates. :-p
Another 26,000? $75,000 worth? Considering you really should not be more than 5% of net worth into any one stock (better more like 1%) you much be richer than I am!
If they spend 25,000,000 on a mill expansion (more than the current market cap) and gold stays above $1250, they might break even on all in costs.
Yeah this is a buy...
The one thing they don't know is metal prices. If moly goes back to $12 and gold to $1400 TC will be looking great. $3 is about right for where things stand now until full production.
I have not met one analyst that was correct on a call BEFORE the stock had already dropped more than once or twice. A broken clock is correct twice a day...
Market manipulation right now. They are taking out weak hands/people on margin. Sad.
Great buying opportunity though!
Ah well, I put in a buy order at 2.75 in case they try again.
All of this has happened before and will happen again.
Average wage in China is like $20 a day for people who can see to assemble I-phones....exactly how much do you think a blind person in China will pay for the drug?
Would you rather have a CEO who makes promises and then doesn't deliver or one who wants to make 99% sure that what comes out of his mouth is going to be reality. We have had the former with Kevin for years....why not give the latter a chance for a few months?
They have toured the facility and know a lot more than we do. In the CC they seem to fully expect decent gold delivery from MM next quarter.
they buy back 15B and give out maybe 500M in options and stock grants (which are expensed anyway). It is not as big a deal as people make out.
Those of us not on margin with a little dry powder do appreciate the small window where they take the price down. I feel bad for the OP but I am loving adding shares in the $2.xx area.
I wish I had bought a few thousand bitcoins when they were $0.10 each. Or mined them back when it was easy. I knew about them in 2011 but didn't think much of them then.
If they sell Madsen and get Santoy running, it almost sounds like they could turn things around. But the CEO was talking about all in costs of $1250 per ounce at best.....doesn't leave a huge profit if gold is $1290.
Well...that would be $40 per ounce x 90,000 ounces = $3,600,000 profit per year after they have spent $25,000,000 expanding the mill (which they don't have).
Ok, I had wondered if I would rebuy after the 30 day wash sale rule for $0.15 a share but I just talked myself into realizing I would rather own 100 more shares of TC than 2000 shares of CGR :-)
TC will be just fine if gold is $1250 an ounce....CGR will be bankrupt.
FCX trades at almost 2x rev
Twitter trades at some bazillion times revenue...