My two cents worth

[#1]

So MTX has dumped their gold exposure, that was contributing about 21% to EBITDA. This basically makes them a pure copper player with a bit of flourospar and cobalt. Cash costs for copper are around $3900 of which debt financing makes up about 1/3rd. So the sale should reduce that cost by about 30%. Now they have hedged 70% of all production until June09 at $7,900 - they are going to be posting some great!!! results. BUT, they have hedged 50% of their production at $3900 until 2012. So, to make up the 21% EBITDA lost to gold, MTX is going to have to probably double their copper production, and copper is going to have to trade at around $5000, IMO - with no further suprises from them. Anyone think they can do it? (Personally, I think they can)

[Blik]

I blerrie hope so

[theyoungster]

I love how people think they see something that the whole market doesnt... "market is never wrong..opinions are!' - jesse livermore

[john_1]

Nice post.

[venice]

Why will never be known but the charts don't lie. Target 250 for the double top formation

[Blik]

I think Mr Market can be wrong - it was probably wrong when MTX was touching 3000, but be that as it may, Mr Market is what it is. Wrong or right. It's when you get in and when you get out that matters.

[john_1]

Just remember it took a million years for the hand axe to become an axe...it took 15 years for a jug kettle to become cordless. Humans are much worse at spotting the obivious than we give ourselves credit for..

[HateGauteng]

Hi Blik. Still interested in GIS??

[Blik]

Yes Sir - you involved in GIS?

[annie3]

i blerrie hope so as well.

[HateGauteng]

Yep, largely involved at the strategic level though . . . not day to day techie stuff.

[Blik]

HateGauteng - yes me too - have lost out a bit on the technical side and have moved into management I guess. But our company is still small and we get involved in all sorts of GIS work in SADC.

[HateGauteng]

Are you with GTI?

[Blik]

No - small company based in Grahamstown - GTI much larger - I know some people at GTI. Helped me with my Masters.

[HateGauteng]

Are you guys looking for more GIS people?

[Blik]

Always on the hunt for good people...although extremely hard to tempt GIS people to Grahamstown.

[HateGauteng]

I just wanna leave Gauteng. Let me know how to contact you.

[Blik]

Easiest to send a mail to [email protected]

[HateGauteng]

Thanks. I've checked out you guys website. Is it just the two of you?

[Blik]

Nope - a couple more of us - structure is a bit complicated. Better to explain over mail. Send questions.