RE:RE:$5 million write downYeah it's the non cash charge. It's not explained in the financials as to what that is. You think or know it's the depreciation of the plant?
I know it's a non cash charge i just find it hard to believe the results were so bad. Copper price they got is $3.95/lb yet they only paid dividend, a bit of debt and had a negative cash draw in the 3 months.
I remember the company saying the dividend is safe at $3.60/lb, at $3.80/lb share buybacks or performance dividends. Yet a solid quarter performance and they got $3.95/lb and they just paid their dividend really as the repaid debt basically came out of their cash balance. That implies they need $3.95/lb just to pay the dividend. See where I'm going? anyone else find this a bit disturbing?