Hmm "this is as good as cash" - I think this is very misleading.
The costs you include are cash production costs and do not include a number of elements, including:
1. Capex (maintenance) which is significant at around $300m in the forecast period. MATSA operating history shows this fluctuates around a lot (higher and lower).
2. Opex, which is also significant as it includes all operational overhead.
3. Interest on debt of c$800 USD.
The hedged position, although needed due to financing terms, is a little frustrating given the steep backwardation in copper prices.
SFR is essentially a leveraged play on copper.
Ann: BMO Global Metals & Mining Conference Presentation, page-6
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Last
$10.90 |
Change
-0.010(0.09%) |
Mkt cap ! $4.986B | |||
| Open | High | Low | Value | Volume |
| $10.90 | $11.22 | $10.62 | $37.10M | 3.405M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9791 | $10.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.90 | 17780 | 2 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| SFR (ASX) Chart |