re: news - my take on what was said
Forward prices.
A) many metals have forward contracts on the metal exchanges, albeit the RE may be difficult due to the very low volumes. B) many companies forward sell a % of their potential supply.
If a company can't forward sell a % of it's product, then it is often a result of not being in a position to forecast it's output, or the buyers are not confident of delivery.
Or they can't agree a forward price taking into account risk of delivery.
If LYC had a good handle on output, then they could forward sell, and thus at least have an idea of the prices. And of course then estimates of cash flow.
Now, I'm not suggesting LYC should divulge this, but to suggest one speaks to a broker is lame to say the least.
This does nothing to give one confidence. Just more smoke and mirror CEO speak.
LYC Price at posting:
63.0¢ Sentiment: None Disclosure: Not Held
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