Post by
schocor on Apr 28, 2022 8:46pm
rough quarter
pretty rough quarter. production was low, as expected.
derivitive loss of $17m was as expected as well i guess.
they stated that the contract with glencore for may21-apr22 was not negitoated and that there were getting the fallback spot price which they state is $175/t. i thjnk glencore will want to get thst contract signed ASAP, but noranda should liks in at a good price for the period.
i think this will trade down after the crummy production, but i can see brighter days ahead - next 12 months.
Comment by
Joe455 on Apr 29, 2022 1:42pm
Derivitives bite a lot of companies in the @ss.
Comment by
schocor on Apr 30, 2022 1:44pm
well this certainly did not selloff on friday. question: the treatment charge per tonne - this is the price rhe smelter gets per tonne of concentrate treated...correct?
Comment by
ZincDink on May 01, 2022 1:38pm
Yes. We don't know what we get for TC though, but many suspect it is close to spot TC prices, which are now almost triple from recent lows.