Scott Shellhaas, the Company's President and Chief Operating Officer, is leaving the Company effective December 12, 2014.
Moly price got clobbered again today. Time will tell if Perron's decision to put TC on C&M was the correct move. In the mean time, Perron better get the most out of Milligan. I believe he will.
Ultra….are you assuming they continue to produce from the higher gold grade ore in conjunction with lower operating costs to attain the $0.00 cost per pound Cu? How much higher grade ore is there?
TC is dropping in sympathy. As long as operations are performing well, TC will be fine. This presents another opportunity to buy shares….yes another! The key will be no negative surprises from the company.
Despite all the second guessing of Perron's actions or inactions, I think Perron has taken the correct path so far.
Scott Shellhaas's had no formal technical training. He had an Arts degree followed by a Law degree. I guess that was the way Loughrey (another lawyer) wanted it. I believe the lack of strong technical leadership was a contributing factor in the problems and poor decisions made by the company. I am glad Perron is in charge now, and can direct the ship in the right direction.
I was not directing my post to Gart55.
I was referring to PS12's post and his projection for $300 million cashflow from MM in 2015.
I should have been more explicit. I cannot watch football and post at the same time. Too old to multitask!
This will mean later rather than earlier acquisition of second crusher.
This will mean changes at Endako.
The relentless and ongoing fall in moly price, combined with uncertain future global economic growth, and known huge increase in moly supply in the coming years is not an environment to proceed with stripping at TC mine. Perron is correct to put TC mine in C&M. Perron can always start stripping at a later date if conditions change.
How close will their FY 2015 production guidance approach the 60,000 tpd equivalent?
What will be their net copper costs at MM in 2015? One dollar? More? Less?
What will their capital expenditure be for 2015?
After hearing Saxton's presentation, I feel the recent drop in the stock price may be due to concerns of not achieving 100% production at MM in 2015, multi-year C&M at TC mine, and general concerns of dropping commodity prices.