Re-Direct exploration budgetRidgeback:
In general I do not express negative comments about other mine companies, just to prove my point.
People have invested hard earned cash into companies and many people lively hood depend on the work generated by these companies.
Virtually all mine and oil projects are very profitable at high commodity prices. The day trader, swing trader, momentum trader and the long term investor can make money on any stock if he buys correctly. Money can be made at any point on the curve.
So I will not comment on Marathon.
However HudBay would be far better issuing shares to buyout African Copper (ACU) and Blue Note (BN)
They could buy each company for $15 each in shares and resolve the creditor problems and still keep $650 million in the bank.
This would increase HudBay EPS much quick and get HudBay a much higher market cap.
There is no quicker or better way of getting earnings into HudBay, then buying idle assets like ACU and BN. These are two new mines that can be very quickly put back into production.
HudBay could divert its exploration budget and buy both mines. Approximaly $300 million has been spent on these mines, they can be bought very cheaply and would immediately add substantial value to the asset base of HudBay.
HudBay is wasting its exploration budget, when it can buy the above assets for pennies on the dollar.