Canadian Dollar 1.1645That makes Copper about 3.49cdn with the hedge we paid 1.8 million for. Also diesel has dropped close to 20 cents a liter. I would bet that makes a nice little pop in profits as our hedge is for US dollars and fuel sucking trucks and shovels eat 100,000s of liters a day. That 20 cent drop equates to tens of thousands of dollars a day which is many million per year. 2.4 Million is a penny a share profit, At 60 million lbs a year TKO share a penny drop in CDN equates to 600,000 extra profit.
Also the availability of good guys is increasing, the cost of equipment is dropping- ie Endako mine and all the gear sitting up in Tumbler ridge is all fire saled right now so we are looking at some reduced costs.
Interesting that proposed copper excess has yet to materialize, and India is about to take off. Also the whole world is dealing with deflation and the only way to combat that issue is to print more money.