RE:Wow more unloading today
No unloading really, just a lack of buying. The volume since the price has dropped has been very light. Once we get the 3Q production and revenue numbers we'll see some volume again. It would have been a smart move if they sold some months forward near the highs. Afterall they are needing to fund the preconstruction phase for Ana Paula. Often when miners have near term known capital expenses they cover those costs withe forward sales (hedging). Let's hope these guys are not gambling on metal prices and have locked in some future cash flow to cover near-term their development expenses.
Just a few more weeks and we should start seeing some 3Q numbers. Pretty good chance that the average selling price is well into the $1,300 range. That should have generated some very decent cash flow.