TC reduction = 8 cents additional cf if 40-60 tonFrom cc, current tc is 188 ton concentrate plus escalators (kicked in during 4th qtr).
2016 tc talk of 40-60 ton with reduced or no escalators
188-50 = 138 conservative savings per ton (exluces esc. channge).
$138 *57,000 tons concentrate (4th qtr) * 4= 30 million +
An additional 8 cents in cf for 2017. At 6-8 casfhlow, roughly 50 cents increase to target price.
40-45 cents cashflow for 2017 at 1.20 zinc 6-8 muliple.
I think we will have price target between 3&4 sometime in 2018
Good luck to all.