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.
Hmm "this is as good as cash" - I think this is very...
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Last
$8.04 |
Change
-0.510(5.96%) |
Mkt cap ! $3.677B | |||
| Open | High | Low | Value | Volume |
| $7.97 | $8.20 | $7.96 | $27.58M | 3.423M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $8.01 |
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| Price($) | Vol. | No. |
|---|---|---|
| $8.07 | 8656 | 4 |
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