Post by
nofluff on Feb 19, 2021 5:44am
Copper
needs to blast through 4.00 so it becomes support instead of resistance,
That happened at 3.00 and 3.50.
4.00 copper is giving a tko share a cad dollar ebitda on gib mine alone.
So we trade double ebitda guidance 2021. Add flor in and we trade at par.
No insitiu value. Barrick was trying to do a buy in on freeport but with price of copper up, freeport terms went way up. So Barrick to a pass.
No need for a j.v. on flor. If we upsized plant and needed another 70 million u.s. I could understand selling 10% for 70 million. Going from 85 million to 125 million wiuld give us 40 million more pounds less the 12.5 million to jv.
That is net 150 million cad increase to sh. I would do that deal. I could c barrick writing a check for 10.00 a share to get tko. I doubt that I would take less.
nf
Comment by
KentWilkens on Feb 19, 2021 7:02am
NF, cu goes over 4 and stays, no jv.
Comment by
spitfireIVX on Feb 19, 2021 9:19am
up 12 cents, nicely over $4. Lets see if / how long it stays. Go Cu, go TKO
Comment by
nofluff on Feb 19, 2021 9:48am
Copper at 4.05. Up .14. Factories r paying what they have to. Tko 2.50 cad for sure today. nf
Comment by
MiningD on Feb 19, 2021 9:51am
such massive under performance against peers like CMMC and CS - I hate to say, but I chose the wrong pony here.
Comment by
JoeStockIQ on Feb 19, 2021 11:07am
MiningD is correct, only up 4% while peers are up double plus percentage wise. It does appear some forces are trying their best to keep the share price as low as possible no matter what. Remember 2017/18 run to $2.50/$3.00 was with $3.35 copper ang Florence 5 years off. Have to admit, something is going on to suppress share price.
Comment by
JCSunsfan on Feb 19, 2021 12:42pm
It is time to announce earnings. They have not yet announced when. It is expected to be a negative report in spite of the good news on copper. I think this is an anchor on the price right now. Even then, the gale force winds of the copper price are dragging that anchor along the bottom.
Comment by
dcjones4396 on Feb 19, 2021 1:15pm
Agreed JC, this continues to illustrate just how bad investors are expecting the report be. The amount of room this stock has to run is crazy if we get by it without getting crushed too badly.
Comment by
spitfireIVX on Feb 19, 2021 10:02am
volume of 116224 already this morning 115957 115957
Comment by
BlueBee on Feb 19, 2021 12:14pm
KW......Yes, I,m still in favor of no jv. Apply all available resources to Florence, and then move on.
Comment by
JCSunsfan on Feb 19, 2021 12:46pm
At $4 plus copper, a JV is not needed at all. If I am figuring right, that is about $250 free cash flow a year on Gibralter alone. Might as well use that money to build our Florence, what elese are they going to do with all that loose change lying around.