RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Transcript firecracker74 wrote: Note 5 says that the put options were on 41M pounds of copper. That works out to a cost of .27(CAD) per pound for each put. It is highly likely that these puts will expire worthless and they will write off the $11M loss. With copper at $4.72 it is likely that the puts are almost worthless now so most or all of the loss will be written off in quarter 2. Since the cash was spent in quarter 1 it will not impact the quarter 2 cash balance, but it will impact the bottom line profit. My estimate for cash on hand as of June 30 is about $250M. A lot will depend on how much they spend on Florence during quarter 2.
we better hope they expire worthless.