RE: Q3Zu, have you ever started up a new mine? If you want a perfect world, then a junior mining stock is probably not for you.
These startup hiccups are pretty typical from what I have seen. They are doing ok. Q3 was pre-production so no one expected much. The hedging losses are typical for an early stage company forced to hedge to satisfy financial covenants. Their first mine will be a good money maker for them but the real deal is how it will fund mines 2 & 3 which look very impressive. The numbers for the Terrazas project are tremendous both in terms of resource and potential annual production. They have an estimated resource of 2.34B pounds of zinc and 600M lbs of copper at Terrazas worth $6.78B Cdn at current prices. The market cap of CCU diluted is approximately $330M. Furthermore zinc is hitting a fresh high of $2.08 as I type.
I have been accumulating as low as $1.45 and recently at $1.89. I bought more this morning. This thing is a screaming buy as far as I can see but I know nothing. One guy that does know something is Irwin Michael of ABC funds who bought 500K shares of CCU recently for his Dirt Cheap stock fund. He is the ultimate value guy. Good luck, Cheers!!!