RE:Cup is CorrectJoeStockIQ wrote: From current level, it will be difficult to move substantially higher. Florence is still a long way off from producing, favorable prior earnings reports and current price of copper has been factored into share price and Gib is a known asset in terms of current share price. So, as Cup correctly pointed out, this is the first time in over a dozen years that a high percentage of NEW Taseko investors are nicely "in the money". This leads to a scenario in which A LOT of swing trading is happening and will continue to happen. Especially with entities that hold several hundred thousand shares and up. Simply setting a 10 - 15 cent U.S. range with say 50k shares can be a relatively safe way to bank decent continued, rolling profits from the trades. Yes, if copper surges to $5+ quickly the parameters may move up a bit but not to substantially higher valuation due to the reasons stated above. Keep this in mind if you're expecting a jump to say $3 or higher anytime soon. We just can't envision that high of a share price with Florence so far out. Food for thought.
We explained above why it will be difficult to move the share price substantially higher from these levels, even with nice copper up days. Today is illustrative of the points we made. Florence is still too far away from production to factor in current share price. They will be spending heavily over the next 18 months until production comes to the rescue. $5 US copper and a strong Q2 earnings report “might" get share price near $3 US. Point is thus, Taseko stock is close to fully valued at present until we get closer...much closer...to Florence production. But, if the market tanks from the banking sector coming clean on their faltering CRE loans, everything will go with it, including Taseko share price. That's why we've begun tapering our position. We will continue to exit the majority of our position from now until the Q2 earnings are released, continuously monitoring the SPX and several banking related ETF's for signs of the collapse. The only thing stalling the inevitable bank sector collapse is presidential election year politics. The regulators in the current administration fear a market collapse more than anything right now at the behest of the people in power, you know who that is. At any rate, this is why they're not coming clean. Again, not trying to rain on anyone's Taseko parade here as you know we're huge Taseko fans and investors. But you simply can't hide your head in the sand with what's going on at current. We will be doing as previously stated, shorting the banking sector ETF's in a rolling manner with 9 - 12 put options with the ultimate goal of going back into Taseko shares heavily in 9+ months, depending on the market environment at that time. Not trying to talk anybody here into anything, just giving a heads up to our fellow Taseko investors.