The information on this Website is not reliable and not intended to provide tax, legal, or investment advice. Nothing contained on the Website shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@Wannabeinvestor@racker, I think he's got a point re $NSU although not sure it's definitely $LUN. been bottom-fishing for $NSU shares here, it does look like one pays for Timok and gets the rest of the business for free
@NickZedAnyone got any idea what is $LUN forward hedging policy- I'm trying to get a feel for how much commodity spot exposure they have and therefore how much leverage to the upside they would have as copper and zinc prices rise. I posted a similar question in the $VEDL forum. Thanks
@NickZedIf the market prices for metals fall below the Company’s full production costs and remain at such levels for any sustained period of time, the Company may experience losses and may decide to discontinue mining operations or development of a project at one or more of its properties. If the prices drop significantly, the economic prospects of the mines and projects in which the Company has an interest could be significantly reduced or rendered uneconomic. Low metal prices will affect the Company’s liquidity, and if they persist for an extended period of time, the Company may have to look for other sources of cash flow to maintain liquidity until metal
prices recover. A sustained and material impact on the Company’s liquidity may also impact the Company’s ability to comply with financial covenants under its credit facilities. The Company does not currently hedge metal prices. Any hedging activity requires approval of the Company’s Board of Directors. The Company will not hold or issue derivative instruments for speculation or trading purposes.
click to invite
@NickZedThe Company does not currently hedge metal prices
click to invite
wannabeinvestor@NickZed, if memory serves, Lukas Lundin went public recently saying he expected significantly higher prices for copper and zinc in the next few years.
@fl@wannabeinvestor Thought about that but $lun just finished eliminating their geopolitical risk. Where do you guys figure Serbia falls on that scale? Better than DRC no doubt. Have to imagine they wouldn't be overly interested in Eritrea but that is a minor part of $nsu at this point.
@Pete#copper$lun BHP Billiton ($BHP.AX) ($BLT.L) said on Wednesday it has started a sales process to potentially divest its Cerro Colorado copper mine in Chile, one of its smaller operations in South America.
"The evaluation is at an early stage, no final decisions have been made and there is no guarantee that a transaction will result," BHP said in a statement emailed to Reuters.
Cerro Colorado is located in Chile's Tarapacá Region and yielded 77,000 tonnes of copper in fiscal 2016.
BHP's flagship mine, Escondida, also in Chile, yields more than 10 times that amount annually.
Banking sources have named Chile's Empresas Copec SA COP.SN, a conglomerate that has voiced interest in diversifying into copper, and Canadian companies such as Lundin Mining Corp (LUN.TO), as possible buyers.
BHP has earmarked large long-life copper mining as a key growth sector in years to come as expansion work in its iron ore mining business in Australia slows down.
Citibank is advising BHP on the sale.
(Reporting by James Regan; Editing by Richard Pullin)
“'It’s a good time to acquire right now,' Lundin said from his office overlooking the cargo ships and sparkling waters of Burrard Inlet."
"The best opportunities are in base metals and he’s keen to see Lundin Mining Corp., of which the family owns about 13 percent, resume its acquisition spree."
"Lundin said zinc could be the best-performing commodity in the next two to five years, while copper and nickel will take a bit longer. The ideal base-metal acquisition would be in Chile, Argentina or Peru, countries in which Lundin is comfortable doing business, he said."
$LUN$TK@ocotilloredux "Hole [56-57] if you can build some tonnage in this area, this represents the highest zinc grades minable in Peru."