Taseko Mines Ltd T.TKO

Waiting to buy or waiting to sell?

[JCSunsfan]

Earnings report tomorrow.  Usually investors are waiting in the shadows to let earnings uncertainty to pass before making a move.  They tend to do whatever they were predisposed to do before the earnings report regardless of what the report is (unless it reveals something REALLY unusual).  

So, are investors looking for buying opportunities or selling opportunities with Taseko right now?  I believe they are looking for a moment to get in, not get out.  Therefore, there is a high likelihood we will get a bump on earnings whether it is good, mediore, or even a mild disappointment.   Unless there is unexpected bad news regarding the future, I expect a bump.

[JCSunsfan]

[JCSunsfan]

 Based upon guidance, I expect copper production to be about 29 million pounds.  Moly should be similar in proportion.  Moly price remained stable through the end of June.  Copper averaged 4.20 per pound through April and May, then dropped to about $3.65 average in June.  Depending on how they handled the puts, they could have cashed them out in June providing a cash bump.