HindsightIs a b itch. Had mgnt known that copper would be @$.3.34 a month or so later, would they,
should they have done it? The discount looks bad on the surface but at the time that deal
was negotiated, copper price was well below current levels and no vaccine announcements
had happened. Discounts are standard for financings, especially for miners and TKO needed
a higher copper price to look attractive.
Bottom line, the 3rd Q hurt and then on top of that, the dilution. The good side, it looks
like finally there might be some light at the end of the tunnel. Copper prices are bailing them
out both in regards to the pp and the bad 3rd Q and and is setting them up for Florence.
We are where we are but sometimes I wish things had been different. The last time copper
traded at this level, TKO was heading to $3.00 just riding on G with Florence still in the dream
stage. Trump and his cursed idiotic trade war with China killed the dream and put TKO a few
years behind plus a dilutive capital raise. Despite all this, just look at the struggles NCU has
gone through. Talk about dilution, it was brutal and they probably should roll back at least
10 for 1 to get the funds involved.
MS