I think they are closing out their position as it is woeful.Check the last quarterly & you will see what I mean.
They are producing concentrate , not cathode , so as price has risen , as to has the Treatment charges & refining charges ( TC / RC's ) > I would have to look this up , but from memory the price participation mechanism really hurts ( ie they have capped the price they are recieving , yet have to pay smelter / Sempra the increased charges based on spot price ) .
I only have a small holding from 2004 , most likely to hold. CUO on th eother hand I have lots of since Dec 2005 - I like much better as it is a pur copper play .
Cheers
Baraka
SRL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
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