It's not a matter of encouraging. It's a matter of keeping it above $1.
If he/Saxton don't make a meaningful buy (50+k shares), I am seriously consider unwinding my position in tc. Like my 50cal sucking chest would and move on.
Listen to what he said at cibc yesterday. I did not hear a single ounce of REAL optimism. I herd opposite... If you've been in tc for a while you'll know they were adamant about mid 9s moly keeps tcm/endako running. Now they're saying $12. They said new crusher was $50-75m now saying 75 is basically the new project floor. They missed on production guidance (after raising it, remember months earlier). Said before striping for p8 was around $35m now it's $100m.
In all sincerity I think we all duped ourselves into thinking he was sandbagging. After yesterday, I fully wonder if he's over inflating guidance 2015.
If Perron Saxton don't buy more than 50k shares total by end feb, I think I will start rolling out of tc. At least a good part of it as painful as it's going to be!
Wow. Talk about going from licking his bald head for Q4 to tapping out in less than a week. Sheeeez.
What am I getting wrong???
The only thing I can think of is Perron and Saxton to buy significant shares at next open window.
Listening to it now. Ugly views on moly ops. Said tcm P8 stripping cost would be $100m.
BLM decision is meaningless seems to me. Needs moly at $12 (wayyy higher than mid 9s he was saying this time last year).
Acquisition target. I don't see how they can avoid it even if can refi at decent rates. If you think otherwise, I'd love to hear your reasons why. Other than "we don't want a takeover".
That's because DB and BOA want the refi underwriting business around the corner.
goldman is the least credible of them all. for the reason you stated. for crying out loud... they were shorting the very same products that they were selling their clients knowing that they were eventually going to go belly up (the products). i am not anti-wall st by any means. but goldman? those folks are #$%$.
i agree. presuming they get the official green light from blm. that is one place where i think perron totally sandbagged. TCM produced way too much moly for it to be "done" until full stripping to get to p8. I think there's a lot of p7 left that they are calling p8 for that purpose. just my hunch.
Nice headline article from it too, Ultra. "Morgan Stanley Sees 24% Rally in Copper After Last Week’s Slump"
That would put it back in the $3-3.10 range.
By the way, it's not getting published tomorrow (1/23) which was the earliest date BLM said it might be. I'll check the inspection docket tomorrow to see if in queue for Monday.
Meanwhile, isn't TC presenting tomorrow at one of the conferences?
No place to go but up from here I guess.
Hopefully the tcm BLM decision will create a positive market reaction. I would hope that tc has a press release at the ready to announce p8.
What does tc paying dividend(s) and tc buying every porn movie, mag ever made. Giving up? Neither were ever mentioned on this mb as something they ought to do/consider.
My guess is that tcm can turn the moly spigot on fairly quickly after p8 approved. Even if at 3-4m lbs per quarter rate. That could be an extra $40-50 in cf.
What? Not true. The debt covenants have no restriction on equity at all. Heck, how do you think they got the tmed done?
Convertible pfd. Don't want that to be in perpetuity.
Btw, this is basically another tmed.
If done right, I'm for it. If being operative word!!!!!!!!!!!!!!!!!!!!!!
Pfd would also have to be a fixed $ not an ebit floating every year. Pfd and float $ don't mix well in terms of who buys them normally.
I'm in favor I think if equity raise to pay down debt. Net pps would still jump!
They usually ship 1 load per month. Standard for tc so to speak. 4 is a treat when it happens in a waiter.