RE:Q2 2013
Given the company's high financial leverage and massive amount of depreciation/amortization I don't think anybody should focus on net income (or loss) for TCM.
I'd recommend focusing on cash flow because as long as the company can meet it's remaining capex commitments + interest payments the company's debt the shares should bounce up to be in line with the industry on a P/B or P/NAV basis, but moly prices are deteriorating rapidly and will definetly pressure the cash flows (especially if Mt Milligan experiences any further cost inflation).