TELSON RESOURCES INC SOHFD

RE:RE:Q4 at glance

[junior_miner]

Actually the past financing by the management was the reason I got interested in the company. It’s really rare to see that kind of support.

Seeing past the Q4 results requires somewhat detailed modeling, but most of the factors move to positive side.
* Zinc price about USD 1.3 vs. 1.11
* Full year 2500 tpd
* TC will double unfortunately.
* No concentrate thefts as you mentioned.

Factoring these in I get USD 20-25 operating cash flow and 0.9 / lb co-product C1 operating cost (thereabouts). The there is wild card of Leachox.

What I don’t like in Campo is their Zn equivalent grade calculations. Copper is big component there, but in reality they hardly get any money from it. Recovery is really poor and payability even worse. At the moment this is low grade Zn mine that can be operated with quite low costs.

Tahuehueto even cash flow is even somewhat more.