Amateur Traders80-90% traders just trade reading only the headlines before going through the whole report. I wont be surprised if TCM declines by 2% tomorrow. I for one would buy more if it declines but have no free cash.
Few Facts ---
All Canadian companies have to switch to IFRS from GAAP following second half of this year.
Earnings meet Street Expectation.
Better earnings than previous Q
However lower EPS due to Depreciation of added PP&E ( from $700M last Q to $1.2B this Q)
Lower earnings due to Exploration cost of $8 Million.
In a nut shell, TCM will have a huge cash flow going forward. I would like to see its earning increases by 15% quarter to quarter. Cash cost is as promised so margin is good. Will be total different story in 2013 when Mt milligan will come into play