RE:RE:guidance indicates III is dead money for all of 2018Without being to melodrammatic. Imperial isnt dead, its just a little...how can I say it....stonned? Get it...because its a mine.....
2017 they underperformed. Price of Copper stabilized at around 3.20US. This gives them wiggle room. Future deliveries are trading at 3.20US for May...so its pretty stable. Their production is on average around 2$ Cdn per pound. Price of AU is good to. So there is opportunity.
Likely Scenario:This year they are very conservative with their projection. Red Chris is running at 95%. Depending if they come out of Mount Polley in Q3 / Q4 - and start showing some good numbers...you will magically see them outpreform, just in time for the re-finance.
Most Dangerous: They have to stop production at RC due to some unforseen event. Fire / flood...whatever. They will miss their targets and re-finance will be hell. ME will just own this place outright at that point.