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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@nicholaslepanChina Moly to help BHR to buy Tenke Fungrume copper, cobalt mine in the DRC
- China Moly is to help BHR, the Chinese private equity firm to fund its acquisition of 24% in the Tenke Fungurume #copper mine from Lundin Mining for around $1.14bn $LUN
- China’s CMOC is also buying a 56% stake in the mine from Freeport McMoRan for $2.65bn
@nicholaslepanThese companies are all scheduled to release their quarterly results today: Allied Properties REIT $AP, Crombie REIT $CRR, Dream Global REIT $DRG, Exchange Income Corp. $EIF, First Majestic Silver Corp. $FR, Hudbay Minerals Inc. $HBM, IAMGOLD Corp. $IMG, Lundin Mining Corp. $LUN, Maple Leaf Foods Inc. $MFI, and Pason Systems Inc. $PSI.
@marketwiredLundin Mining Publishes 2016 Annual Filings @marketwired/lundin-mining-publishes-2016-annual-filings$LUN$LUMI . For the year ended 2016, a net loss of $661.7 million ($0.92 per share) was attributable to shareholders, inclusive of a $772.1 million impairment taken on our investment in Tenke. This net loss was an increase of $348.4 million over the net loss of $281.8 million reported in 2015.
@rackerSwede Mining Tycoon Lundin Likes Copper: "I think we’re at the beginning of a new cycle, and we’re still far away from the highs we saw five or six years ago. When I look at that scenario I see a lot more room for improvement and the opportunity to participate in rising markets. For example, I believe we’ve seen a broad under-investment in copper for a long period here, and demand isn’t going anywhere. I’m not someone who makes predictions on when exactly we’ll see that spark again, but we’re confident it’s coming and you don’t want to miss out on what should be a really strong copper price recovery."
@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.
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@NickZedThe Company does not currently hedge metal prices
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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.