Post by
Cognition777 on May 14, 2024 9:57am
Copper collars
Those collars from July '24 - June '25 could come back to bite us.
Maximum price is $5/lb and copper sits at $4.86 as I write this.
Comment by
JCSunsfan on May 14, 2024 10:19am
Yep. I said the same thing. I told Brian that. Copper could go to $6.
Comment by
nofluff on May 14, 2024 11:52am
4.99 now cog. They have 45 days till collars strangle. Did they make 20 million on the sale. Perhaps they could buy them back for 20 million today. Nf
Comment by
JCSunsfan on May 14, 2024 12:11pm
It would cost a lot more to buy back. I talked to Brian about this. They had a hard time imagining that copper could top $5 for an extended time. The bottom line is that they might have to settle for a boatload of cash for six months rather than a boatload an a half. It would be interesting to see how much the collars impact share price.