RE:RE:Shame
I agree with the frustration and the conference calls seem to be a broken record with generally meaningless questions and always promising to make an acquisition. If you do nothing then pay a 10% dividend. Unless they are waiting for a mega porpyhry project that will put risk in trashing their balance sheet from the build out I see no reason for the delays and if they still were so bearish in their indecsion then why don't they hedge their Cu production?
As for the last time they performed a buy back it was a token move as they did not perform a scale and paid a relatively higher price so I think that is a bad idea.
I think the reason why they missed the EPS number on such a good production report is they only got 2.98/lb for their Cu which was anywhere between 6-10 cents below their peer group during the period. Why?
Bad timing of sales or is their a valuation penalty in their concentrate from perhaps Pb. who knows?
Certianly frustrating but the other dregs in the sector look much worse as this is the most defensive junior miner from a fundamental perspective if you want to maintain exposure in the sector.