RE:RE:Glencore is burying TV. CG2021, if Trevali had not bought the 2 mines from Glencore, they would have suffered the same fate as Blue Note Mining. Caribou is a company killer. The only way Caribou should ever operate is if its production is hedged for years. That is what Trevali has done, which was the right move, but I think they should have waited for a higher price. At least Caribou should be able to eek out a profit with the new treatment costs.
After Trevali management bought the 2 mines from Glencore, the zinc market was looking strong, and the stock price was flying. They were full of hubris. That was the exact time they should have started a hedging program. They had no idea that the price of zinc could actually drop.