RE:our Q3 per LB I think mid Oct. production numbers will push us up into 1.50's to 1.70's. Earning mid November should get us higher.
A few tuck in acquistions might be in the works. Ascendent and Prism are strong possibilites with Heron, Rainy River, Inzinc, Americas others. Duran Ventures wouldn't be a surprise either as they have prod. capacity close to Santander. Additional mines from Glencore and others also possiblities.
At some point in the future, we will be valued on existing cf with an aggressive growth profile pushing us to much higher cf multiple as the projected earnings get factored into NAV.
Growth
1. Santander-higher grade and doubling of production in future.
2. Caribou-Copper circuit and better throughput
3. Rose Pinah-Expansion to 3000 tons from 1800 tons with better recoveries
4. Perkoa-additional optimization
5. Halfmile/Stratmat/Heath.
6. Acquistions
Based on what I forsee, I see 2018 production of 450-460k lb. zinc (if no acquistions), 2019 of around 580k lb. zinc (if no acquistions) due to doubling of Santander at higher grade and Rose Pinah expansion. Higher production at lower costs leads to increased cf (and higher zinc price).
Further reduction in TC's as a kicker. We will be at a CF multiple at somepoint around 8 or so.
The times will be a changing. Optimist or realist-time will tell.