RE:RE:Wow more unloading today OQ,
Unfortunatley, at the time the financials were released, per subsequent events, they had no forward contracts - so it looks like nothing was entered up to July 2016. A double whammy is that they did enter into forward contracts last December, which resulted in them having to deliver gold at around $1080 oz when the going rate was $1200. Luckily, the quantity wasn't too a lot, but it did hinder cash flow in those Q's.
I decided to add to my position today, knowing the following:
- Gold weakness and relative TMM weekness can partially be attributed to Q end. I do expect Oct to pick up with "sticky" gold demand - actual gold purchases
- TMM's production results out in two weeks, as many have repeated
- Financials should be vastly improved over last Q - with reduced cost and higher margins. No financing or interest charges this Quarter, better Forex than previous Q's, but production will probably also be lower.
On another postive note, TD now shows 5 institutions have a "buy" on TMM, up from 3 in previouos Q's. TMM is starting to garner well deserved attention and that will translate to a higher shareprice.
B