Post by
firecracker74 on May 12, 2022 1:43pm
What does $4 copper mean for TGB?
I got out at $2.29U.S. Whew! TGB expects to produce an average of 31M pounds of copper(24M TGB share) for each of the next three quarters. The hedges guarantee the $4 price for 2022. At $4 copper TGB would average $130M in revenue and $100M per quarter in expenses for an average profit of $30M per quarter CAD. The reason I sold is that I do not expect the permit to come through as long as Biden is in office. If it does then it's a whole different ballgame, but I wouldn't bet on it. Either way, it seems that the selling has been overdone with no more downside price risk for the balance of 2022. I have switched to oil and gas royalty stocks which are doing EXTREMELY WELL.