RE sucked?Why are we down 9 F**KING % today with insiders buying??
Because the RE sucked and the market knows it!!
Not a paid basher, just a retiree.
10-15% in a small cap is fairly normal.....they dont always go up man.
The RE was awesome.....2/3 of this company belongs to guys who have been in this industry for a long time and have complete control of the company....they'll do things the way they want...not the way we want. The market reacted negatively because RETAIL investors by and large cant read a RESOURCE ESTIMATE. The sell off was an amazing last minute buying opportunity for any long or people who just want to get in on the stock.
I seriously cant comprehend a BILLION TONNE RESOURCE ESTIMATE being chump change unless the CuEq was 0.01%.
Quick math....
Lets look at the MEASURED section for copper alone.
6.1 billion lbs of copper x $4.40 = $26 840 000 000
$26 840 000 000 x .236 = $6 334 240 000
Now lets assume we have to spend ridiculous recovery and operational costs to get this copper...lets say 50%
$6 334 240 000 x .5 = $3 167 120 000 (Remember we produce copper at a negative margin)
So after all recovery and operations etc we still have $3 167 120 000.
Now lets divide this against the shares outstanding.......again Ill gross up the numbers.
$3 167 120 000 / 1 000 000 000 = $3.16 on copper ALONE.
Thats the raw math people, now remember we also have gold, moly, rhenium etc. to throw into the mix....and even better......because of the last resource estimate.....OUR OPERATIONAL COSTS ARE LOWER. See the step about 50% recover/operations costs......and re do the math at a lower percentage.....the share price seems to work up in value with lower costs. Funny that.
Mind you if I owned a deposit like this Id be a lot more worried about what my buyer would think than my shareholders because I got 65% ownership.
Just putting it out there......now matter how you look at it its a BIG F*****G DEPOSIT.
Rogue,