Post by
drunk@noon on Jan 10, 2024 8:17am
Gilbrator mine is a POS. Face it, when you factor in all the
cap ex including the continued capitalazion of dealing with waste/overburden the cashflow over the years has been piddly. Remember every other copper company has jumped in price when the base price of cppoer jumped from 1.50 range to the $4 range. Yet all Gilbrator gave them was increased debt and a flat shareprice. Guess no one wants it, so you wouldnh't get anything for it. Might as well keep it rolling and hope $6 copper arrives, but $4. Have no idea why they bought a larger percentage of it, rather than putting the cash towards Florence.
Comment by
cashtango00 on Jan 10, 2024 8:31am
its a high cost operation with limited expansion opportunity. Given their balance sheet, didn't make much sense to up their %, I agree. They are still 3-4 years away from Florence operating at its stated capacity...High leverage low margin requires high copper $ to be attractive.