RE:RE:RE:RE:RE:$5 million write downThey had $13.8 in March and based on their settlement prices they will pick up at least $6.3 from this past quarter which would mean over $20 million based on settlement of past production (read the report under significant items). They will likely have the $25 million before the end of the next quarter based on currrent copper prices. The $25 million was also a number they were comfortable with and that could change based on the copper prices forecast. If the share price stays depressed they might purchase shares under the NCIB.
Moly prices have also been rising since their last quarter ($19.67 vs $21.71) so that will further reduce their costs as well as their Capex project increasing production by another 760,000 lbs. Lots of good things in the future in my opinion.