RE:Q1,2014finally we see the cost of copper, it is below $2.30/pound (it was more than $5 in the fourth quarter) and $506/ounce for gold in the first quarter. and $5.75/pound for moly. it is better than I thought..we see the cost continues reducing as the new mine ramping up. At least the cost control is effective...
there was non-cash foreign exchange losses $46.5million, compared to the net loss was $39.1million, that means the major reason for loss was the foreign exchange loss. I remember that there was foreign exchange loss in the last quater as well. the exchange for canadian $ and the us dollar had not changed a lot in the first quarter.. so strange here.Can anyone please explain how TCM could have so large foreign exchange loss?
also what is cost on co-product basis and cost on by-product basis? Can anyone please explain these two terms and what are the difference from the regular cost term? thanks a lot.
Overall, i am happy what was in the report. we will see great result in the second quarter.